The share price of I-CABLE COMM (HKEX: 01097) experienced a sharp intraday surge of 61%. At the time of writing, the stock is up 56.36%, trading at HK$0.086 with a turnover of HK$4.8279 million.

The company has announced that its board of directors is proposing a change to its corporate name. The recommended new English name is "CTF Media & Entertainment Limited," while the proposed Chinese name is "CHOW TAI FOOK Media & Entertainment Limited." This would replace the current English name, "i-CABLE Communications Limited," and the Chinese name, "I-CABLE COMM."

This proposed alteration to the company's name is subject to approval by shareholders through a special resolution at a general meeting and must also receive approval from the Hong Kong Registrar of Companies before it can be finalized.