On June 18, Kingboard Laminates declined 3.5% in regular trading, trading at HK$84.9 per share with turnover of HK$1.345 billion. The stock continued to face selling pressure following the controlling shareholder's large-scale discounted share placement announced the prior day.

On June 17, Kingboard Holdings' wholly-owned subsidiary Kingboard Investment entered a block trade agreement with Citi Global Markets and Merrill Lynch to place 155 million shares at HK$76 per share — an 11.5% discount to the prior closing price of HK$85.9 — raising approximately HK$11.78 billion. The placement represents about 4.92% of total issued share capital, reducing Kingboard Holdings' stake from 66.62% to 61.70%. Settlement is expected on June 22, and Kingboard Investment has committed to a 60-day lock-up post-completion. Proceeds are earmarked for PCB business investment, capacity expansion, R&D acceleration, and debt repayment.

With the stock having surged over 570% year-to-date amid the AI-driven PCB upcycle, the substantial discount on the block sale has weighed on near-term market sentiment despite continued bullish institutional earnings forecasts.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)