Recent data from The Stock Exchange of Hong Kong indicates a significant change in the holdings of Lung Fung Group (02290) on June 8th.

The total custodial market value of the shares amounts to 10.54 billion Hong Kong dollars, representing 75.00% of the relevant holdings.

A shareholder of the company deposited 375 million shares with DBS Bank Hong Kong, leading to a 75.00% increase in the proportion of shares held.

Lung Fung Group made its debut listing on June 5th.

The listing announcement detailed an issue price of 5.18 Hong Kong dollars per share, with a total of 125 million shares offered in lots of 500 shares each.

The net proceeds from the offering are approximately 600 million Hong Kong dollars.

At the time of reporting, the share price had declined by 16.6%, trading at 4.32 Hong Kong dollars with a turnover of 145 million Hong Kong dollars.

According to its prospectus, Lung Fung Group is a leading Hong Kong-based chain retailer specializing in beauty, healthcare, and pharmaceutical products.

The company is committed to offering a wide variety of value-for-money products to customers through its 31 retail stores operating under the "Lung Fung" brand in Hong Kong and various online sales platforms.