HK Stock Market Move | GRAPHIC GROUP (06128) surged more than 13% and plans to sell to its indirectly wholly-owned subsidiary established in the state of Delaware in the United States.

Shares of GRAPHEX GROUP (06128) rose more than 13%, at press time, up 13.51% to HK$0.42, with a turnover of HK$11.98 million. On the news front, on the evening of November 20, GRAPHEX GROUP announced that the company plans to sell its indirect wholly-owned subsidiary established in Delaware, USA, to a potential buyer. If the possible sale is realized, in accordance with Chapter 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the possible sale will constitute a very significant disposal of the company. The board hereby emphasizes that further discussions and the formal agreement are needed for the details of the potential sale. As of the announcement date, the company has not entered into any legally binding agreements with the potential buyer. The possible sale may not necessarily proceed. Therefore, shareholders and potential investors are advised to exercise caution when buying and selling the company's shares.