Yuk Wing Group's Controlling Shareholder Sells 38.5% Stake; Shares Surge 109%

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Yuk Wing Group (HKG:1536) said controlling shareholder Colour Shine Investments sold around 175.8 million shares, or about 38.5% stake in the company, between Sept. 8 and Sept. 15.

Colour Shine's stake in the rock drilling tools manufacturer fell to 12.4 million shares, or 2.7%, from roughly 41.3 %, according to a Tuesday Hong Kong bourse filing.

Hellobaby International bought 132.2 million shares from Colour Shine at about HK$0.454 each on the same day, taking a 29% stake in Yuk Wing Group and becoming a substantial shareholder.

Yuk Wing Group's shares surged over 109% in recent trade.

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