HK Stock Market Move | Ganfeng Lithium Group (01772) rose more than 4%, with its subsidiary Ganfeng International selling 35.09 million shares of PLS, cashing out 2.22 billion Australian dollars.

Ganfeng Lithium Group (01772) rose more than 4%, as of the time of writing, it rose by 3.22% to 62.5 Hong Kong dollars, with a turnover of 280 million Hong Kong dollars. On the news front, on June 16, Ganfeng Lithium Group announced that its wholly-owned subsidiary, Ganfeng International, sold 35,092,999 shares of common stock through a block trade in the secondary market, with the selling amount approximately 2.22 billion Australian dollars. After this sale, Ganfeng International still holds about 3.27% of the shares. It is expected that the pre-tax proceeds from this sale will be approximately 981 million yuan, with pre-tax proceeds included in the annual profit and loss of approximately 353 million yuan.