On November 6, REALORD TEC-NEW fell 8.49% in Regular Trading, trading at HK$0.196, with turnover of HK$66.43 million.

The latest disclosed catalyst was a major off-market selldown tied to a top-shareholder placing. Filings showed that on November 4, relevant controlling shareholders sold 952.38 million shares at HK$0.21 per share for about HK$200 million through a top-up placing, reducing their long position ratio to 32.27% from 48.78%.

This followed the company’s earlier announcement of a 952.38 million-share top-up subscription and placing at HK$0.21 per share, equal to about 16.51% of existing share capital and about 14.17% of enlarged share capital. Estimated net proceeds were about HK$197 million, mainly for payables, project payments and working capital, while the enlarged share base and ownership change continued to weigh on trading sentiment.

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