Allan International Holdings (HKG:0684) said its public float has dropped to 24.04%, below the 25% minimum required under Hong Kong listing rules, down from 24.27% in June 2024, according to a Monday filing on the Hong Kong Stock Exchange.
The decline follows on-market share acquisitions by investor David Webb, who now holds 13.24% of shares via Preferable Situation Assets and Member One.
The company said it is exploring options to restore compliance, including possible disposals by core connected persons or a new share issuance.
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