Jolimark's Controlling Shareholder Sells Further Shares in Ongoing Placement; Shares Up 6%
Jolimark Holdings' (HKG:2028) controlling shareholder Kytronics Holdings placed a further 141 million shares of the company to third-party investors, a Monday bourse filing showed.Shares of the company were down over 6% in Tuesday afternoon trading.The move came as part of Kytronics' plan to place between 120 million and 445 million shares it holds in Jolimark for at least HK$0.55 apiece, as revealed by an earlier filing.The highest number of shares represents 51.85% of the company's existing issued share capital.Kytronics is a wholly-owned company controlled by Au Pak Yin, chairman of Jolimark.