HK-listed Strawbear at 5-week low, SFC sees high shareholding concentration

Strawbear Entertainment

07/05/2021 05:27

** Shares of Strawbear Entertainment Group  2125.HK  fall as
much as 10.7% to HK$11.70, their lowest since March 30, after
Hong Kong securities watchdog points out high concentration of
shareholding of the TV and web series producer 
    ** Stock, last down 9.2%, on course to fall for a second
session and ninth biggest percentage decliner on the Hong Kong
bourse
    ** Co says Securities and Futures Commission's finding
suggested that its four substantial shareholders and 21
shareholders hold an aggregate 98.20% stake (https://bit.ly/3eYLpl5)
    ** Jiangsu-based firm reaffirms that its substantial
shareholders only hold 73.80% of the issued share capital,
maintaining sufficient public float of not less than 25% 
    ** Company urges investors to be cautious in dealing in the
shares as stock price could fluctuate substantially even with a
small number of shares traded amid the high shareholding
concentration 
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.2%, and the benchmark index  .HSI  gains 0.5%
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)