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Channel NewsAsia
Channel NewsAsia
AsiaPac · 32 mins ago
Record wave of IPO lock-up shares to hit Hong Kong market
HONG KONG, July 6 : Shares in some of Hong Kong's hottest new listings are set to hit the market this week in an unprecedented wave of lock-up expirations, which brokers say could create an overhang on the city's already struggling stock market.• Knowledge Atlas Technology will see 25.6 million shares freed from a six-month cornerstone investor lock-up on Wednesday, nearly 6 per cent of its outstanding shares. The Chinese AI developer's stock price has surged more than 1,200 per cent since listing.• MiniMax and Shanghai Iluvatar CoreX Semiconductor are also among the six companies facing expirations this week, with 45 per cent and 4.3 per cent of their respective outstanding shares set to be unlocked.• The eye-catching returns of new listings could further fuel profit-taking pressure. The
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