Buluke shares fall 21% in Hong Kong after controlling shareholder sells stake
In short
Shares of Buluke (布鲁可, 00325.HK) fell sharply in Hong Kong on 22 October. CLS reported a drop of 18.93% by the time of writing, and Yicai said the decline had widened to 21%. The controlling shareholder sold more than 3.84 million shares, raising about HK$251 million.
Read the full story 1 min read
Shares of Buluke (布鲁可, 00325.HK) fell sharply in Hong Kong on 22 October. CLS reported at 09:56 that the stock had dropped by more than 17% at one point, and that the controlling shareholder had sold shares through a block trade at a discount. [ 1 ]
By 10:36, CLS said the stock was down 18.93%. It reported that the controlling shareholder had sold more than 3.84 million shares, raising about HK$251 million. 36Kr, at 10:38, also reported a fall of more than 18% and cited the same sale. [ 2 , 3 ]
At 13:41, Yicai reported that the decline in Buluke's Hong Kong-listed shares had widened to 21%. The documents give no reason for the sale and no company statement. [ 4 ]
Why it matters
The documents link the share-price fall to the controlling shareholder's sale. They give no company statement or further explanation, so the wider significance is not stated.
Key facts
- Buluke (布鲁可, 00325.HK) fell by more than 17% at one point in Hong Kong on 22 October, CLS reported. [ 1 , 2 ]
- By the time of CLS's later report, the stock was down 18.93%. [ 2 ]
- Yicai reported that the decline in Buluke's Hong Kong-listed shares had widened to 21%. [ 4 ]
- The controlling shareholder sold more than 3.84 million shares, raising about HK$251 million. [ 2 , 3 ]
- CLS said the controlling shareholder sold the shares through a block trade at a discount. [ 1 ]
Confirmed by several sources
Still unclear
- Why the controlling shareholder sold the shares. None of the documents gives a reason or a company statement.
- The size of the discount in the block trade. CLS says the sale was at a discount but the documents give no figure.
- Where the share price stood at the close of trading. The latest figure, a 21% drop, comes from a report at 13:41 and the documents give no closing price.
What local media are saying
Timeline, local time
- CLS reported Buluke down by more than 17% at one point in Hong Kong, with the controlling shareholder selling shares by block trade at a discount. [ 1 ]
- CLS reported Buluke down 18.93% and the controlling shareholder's sale raising about HK$251 million. [ 2 ]
- 36Kr reported Buluke down more than 18%. [ 3 ]
- Yicai reported the decline in Buluke's Hong Kong shares had widened to 21%. [ 4 ]