FINWIRES · TerminalLIVE
FINWIRES

Yuk Wing Group's Controlling Shareholder Sells 38.5% Stake; Shares Surge 109%

By

Yuk Wing Group (HKG:1536) said controlling shareholder Colour Shine Investments sold around 175.8 million shares, or about 38.5% stake in the company, between Sept. 8 and Sept. 15.

Colour Shine's stake in the rock drilling tools manufacturer fell to 12.4 million shares, or 2.7%, from roughly 41.3 %, according to a Tuesday Hong Kong bourse filing.

Hellobaby International bought 132.2 million shares from Colour Shine at about HK$0.454 each on the same day, taking a 29% stake in Yuk Wing Group and becoming a substantial shareholder.

Yuk Wing Group's shares surged over 109% in recent trade.

What else is happening in Asia?

Asia

Guangdong Skychem Technology Proposes Hong Kong Listing; Shares Up 4%

Guangdong Skychem Technology (SHA:688603) plans to list its H shares on the Hong Kong bourse to advance its globalization strategy and build an international capital operation platform.The proposal requires approvals from the board and shareholders as well as Chinese and Hong Kong regulators, according to a Wednesday filing with the Shanghai bourse.Shares of the electronic chemical manufacturer climbed 4% in recent trade.

Hang SengSHA:688603
Asia

Market Chatter: Anthropic to Open Office in Singapore in October

Artificial intelligence company Anthropic is set to open its office in Singapore in October, local media reports said on Wednesday, citing a company statement.This will be the company's fifth office in the Asia-Pacific region, with existing offices in Tokyo, Bengaluru, Seoul, and Sydney, the reports said.Anthropic has appointed Dale Finlay as general manager of ASEAN to lead regional commercial operations based out of Singapore.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^STI
Asia

Range Intelligent Computing Technology to Commit 1 Billion Yuan to AI Fund

Range Intelligent Computing Technology (SHE:300442) will commit 1 billion yuan to an artificial intelligence fund, according to a Tuesday after-hours filing with the Shenzhen bourse.The amount is equivalent to 20.4081% of the 4.90-billion-yuan Xiamen Times Deep Venture Capital Fund Partnership, the filing said.The fund, which has a term of seven years, will invest in artificial intelligence, embodied AI, technology applications, and frontier technologies, the filing said.Shares in the digital infrastructure and data center operator rose 2% during the midday break on Wednesday.

SHE:300442