HK Stock Market Move | PAK TAK INT'L(02668) plunged more than 9% in early trading, cited by the Hong Kong Securities and Futures Commission for high concentration of ownership.

At the beginning of trading, PAK TAK INT'L (02668) fell more than 9%, and as of the time of filing, it dropped by 3.3% to HK$0.44, with a turnover of HK$5.668 million. On the news front, the Securities and Futures Commission of Hong Kong disclosed that it recently conducted inquiries into the shareholding distribution of PAK TAK INT'L. The inquiry results showed that as of September 4 this year, a total of 25 shareholders collectively held 3.483 billion shares of the company, equivalent to 74.41% of the company's issued share capital. These shares, together with 980 million shares held by a major shareholder of the company, accounted for 20.94% of the issued share capital, equivalent to 95.35% of the company's issued share capital. Therefore, only 217 million shares, or 4.65% of the issued share capital, are held by other shareholders. The announcement pointed out that due to the high concentration of shareholding among a small number of shareholders, even a small amount of trading could lead to significant fluctuations in the company's share price. Shareholders and potential investors are advised to exercise caution when trading the company's shares. It is worth noting that PAK TAK INT'L had a low stock price of only HK$0.018 in November 2023, but as of August 30 this year, the stock price had risen to HK$1.35, marking an increase of 74 times. However, the stock has continued to decline this month, with a cumulative drop of more than 60% as of yesterday's close.