On June 23, Kingboard Laminates fell 3.92% in regular trading, trading at HK$89.55/share, with turnover of HK$805 million. The decline comes one day after the settlement of a major block trade by parent company Kingboard Holdings.

On June 17, Kingboard Holdings announced a placement of 155 million Kingboard Laminates shares at HK$76 each, representing an 11.5% discount to the then-closing price of HK$85.9, with settlement completed on June 22. Post-placement, Kingboard Holdings' stake dropped from approximately 66.62% to 61.70%. Combined with an earlier March placement of 130 million shares raising HK$27.3 billion, the parent has cumulatively raised HK$145 billion through two disposals this year.

While the proceeds are earmarked for PCB capacity expansion and HDI product upgrades, the completion of settlement introduces near-term supply overhang as newly placed shares enter the market. The stock had surged over 556% year-to-date prior to this decline, and Citi recently raised its target price to HK$120 citing sustained copper-clad laminate price hikes totaling over 50% cumulatively.

(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.)