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CATL Dives 8% on Bulk Deals as H-Shr Lock-Up Period Ends Tdy; JPM Urges Shifting Positions to A-Shrs
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The lock-up period for CATL (03750.HK) H-shares ended today (20th). After opening flat this morning, CATL's stock price turned sharply lower in early trading and once bottomed at HKD468. It last traded at HKD471, down 8.01%, with a trading volume surging to 7.766 million shares, involving HKD3.758 billion. Meanwhile, CATL's A-shares (300750.SZ) opened higher but soon reversed. It last dropped by 3.4% to RMB377.93. JPMorgan said earlier that cornerstone investors in CATL's H-shares can start selling their holdings from November 20, which may release nearly 50% of the company's outstanding H-shares and in turn erase the premium that H-shares have been trading at relative to A-shares. Since its listing six months ago, CATL's H-shares have soared by about 110%, while its A-shares have gained less than 60% over the same period. JPMorgan suggested that investors already holding CATL H-shares should consider shifting their positions to the corresponding A-shares. AAStocks Financial News |
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