HK Stock Market Move | Build Top fell today, KINGBOARD HLDG (00148) plans to sell KB LAMINATES (01888) with a discount of over 4% of equity.

KINGBOARD HLDG fell today, as of the time of this report, with KINGBOARD HLDG(00148) falling by 5.1% to HK$37.56, and KB LAMINATES(01888) falling by 3.63% to HK$21.22. In terms of news, KINGBOARD HLDG announced that it intends to sell approximately 8.7% of its stake in KB LAMINATES, totaling a maximum of 130 million shares, representing about 4.15% of KB LAMINATES' issued share capital as of the announcement date. After the transaction is completed, KINGBOARD HLDG's stake in KB LAMINATES will decrease from 71.10% to 66.95%, with the latter remaining as its subsidiary. KINGBOARD HLDG has committed not to sell any more shares from the date of the agreement until 90 days after the completion of the sale. The company believes that the sale will increase the liquidity of the shares in the market, broaden the shareholder base, and promote more active trading, enhancing the overall market image of the company.