Shenzhen Pagoda Industrial (HKG:2411) said it has received official confirmation from the China Securities Regulatory Commission (CSRC) approving its application for H-share full circulation, according to a Monday Hong Kong bourse filing.

Shares of the fruit retailer were down over 4% in Tuesday morning trade.

The approval covers the conversion of 85.4 million unlisted domestic shares held by three shareholders into the same number of H-shares on a one-to-one basis.

Once the conversion and subsequent listing are completed, the new H shares will be listed and traded on the Hong Kong bourse's main board, the filing said.