According to public news, 170 million share trading ban of Smoore International (06969.HK) was lifted on January 7, and the stock price fell 7.1%. More than 200 million will be free to trade on January 10.
Since Smoore International went public on July 10 last year, the company’s share price has soared 3.8 times, and its market value once exceeded HK$400 billion.
According to other data, Smoore International ushered in a wave of pre-listing investors lifting the ban on January 7, and it was only one day away from the six-month lifting time (January 10).
According to the company’s placement announcement, on January 7, Smoore International had 170 million shares of pre-IPO investors lifted. On January 10, the company will usher in the lifting of the ban on restricted shares for controlling shareholders and cornerstone investors. Only cornerstone investors have 220 million restricted shares.
It is worth noting that Smoore International’s stock price continued to fall in the first two days. It closed down 5.88% on January 6, and the stock price fell 7.1% on January 7 to HK$60.2.
But on January 8, the stock price rose again, rising 1%, closing price at 60.8 Hong Kong dollars, the latest market value of 356.348 billion Hong Kong dollars.
Yan Zhaojun, a strategist at Zhongtai International, said this is a normal take-off. Yan Zhaojun also said that investors may worry that the lifting of the IPO ban will put pressure on the stock price. Considering that the company, as the world’s largest manufacturer of atomization devices, should have a valuation premium, the current valuation is not expensive. The Hang Seng Index further optimizes the constituent stocks, and the company is expected to be included as a blue chip in the future, which will help support the stock price.