KB Laminates' stock price surged 5.41% during intraday trading on Wednesday, marking a significant rebound in the trading session.

The movement follows the company's announcement that its controlling shareholder, Kingboard Holdings, through its subsidiary Kingboard Investment, has entered into a block trade agreement to sell 155 million shares at HK$76.00 each. The placement price represents an approximate 11.5% discount to the stock's previous closing price.

Market participants appear to be focusing on the stated use of the estimated HK$11.77 billion in proceeds, which are earmarked for investment in the printed circuit board business, capacity expansion, research and development, and debt repayment. The transaction is also expected to enhance the stock's trading liquidity and broaden its shareholder base, with the selling shareholder agreeing to a 60-day lock-up period on further disposals.