Yangzijiang Shipbuilding (BS6.SI) shares fell sharply by 3.03% during intraday trading on Thursday, as the stock gave back some of its previous session's gains.

The decline follows the company's clarification that it currently has no plans to undertake any equity fundraising transactions outside of Singapore. This statement came after a recent TradeWinds report suggested founder Ren Yuanlin was considering a Hong Kong listing, with the founder reportedly describing the Singapore Exchange as "too small and moribund." The company emphasized that while Ren remains a substantial shareholder, he does not hold a management role or participate in operational decision-making.

Investors appeared to react to the clarification, which may have dampened expectations about potential corporate actions that had driven the stock 4.8% higher in the previous session before the announcement was made.