HK Stock Market Move | HOME CONTROL (01747) fell more than 20%, criticized by the Hong Kong Securities and Futures Commission for having a highly concentrated ownership.

HOME CONTROL (01747) was named by the Hong Kong Securities and Futures Commission for its highly concentrated ownership, with a drop of over 20% in the morning session. As of November 3, the company's stock price closed at 5.82 Hong Kong dollars, up 561% from the closing price on June 18 this year. As of the time of publication, it fell 19.82% to 4.41 Hong Kong dollars, with a turnover of 6.4054 million Hong Kong dollars. On the news front, HOME CONTROL disclosed that the Hong Kong Securities and Futures Commission recently inquired about the company's share distribution. The inquiry results from the Hong Kong Securities and Futures Commission showed that on October 17, a total of 20 shareholders collectively held 88.908 million shares, equivalent to 17.55% of the issued share capital. These shares, along with the 375 million shares held by a major shareholder of the company, accounted for 74.06% of the issued share capital, or 91.61% of the total issued share capital. Therefore, only 42.54 million shares (8.39% of the issued share capital) were held by other shareholders. Based on available information and after all reasonable inquiries by the directors, the company confirmed that on October 17 and currently, at least 25% of the issued shares are held by the public, and the company has maintained a sufficient public shareholding as required by the Listing Rules of the Stock Exchange.