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UBTECH ROBOTICS Breaks Floor, Erodes 5%+, Plunging 45% for 4 Straight Trading Days
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UBTECH ROBOTICS (09880.HK) continued to break the floor, and opened 1.79% higher before declining today (3rd). The stock last eroded 5.75% to $49.95, with 9.731 million shares traded, involving $493 million. UBTECH ROBOTICS' stock price fell for 4 consecutive trading days, accumulating a drop of about 45%. Earlier, upon the expiration of the 12-month lock-up undertaking of the controlling shareholders of UBTECH ROBOTICS, Zhou Jian, the Chairman and Chief Executive Officer, entered into agreements with each of Zhao Guoqun, Xia Yongjun, Wang Lin, Xiong Youjun and Xia Zuoquan to terminate concert party agreements. Although Zhou also undertook not to reduce his 70.4 million H shares of the Company in the coming year, other shareholders were not disclosed to follow him. Furthermore, CMBC CAPITAL (01141.HK) announced that its wholly-owned subsidiary YBX sold over 1.748 million shares of UBTECH ROBOTICS on the market on 30 December (this Monday) at a cash consideration of nearly $138 million. After the sale, CMBC CAPITAL will no longer hold any shares of UBTECH ROBOTICS. AAStocks Financial News |
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