Economic Information Daily (25th) reported that Deep演 Intelligent (02723) is sharply down 6.9%, trading at HK$408, with approximately 20,000 shares traded, involving HK$85.5 million.
Deep演 Intelligent announced a proposal to split each existing share into ten new shares, subject to shareholder approval. The group stated that, based on yesterday's closing price of HK$438.4, after the proposed share split and assuming a board lot size of 100 shares, the value per board lot would be adjusted from HK$43,840 to HK$4,384, which could lower the investment threshold, enhance trading liquidity, narrow bid-ask spreads, and improve trading efficiency.
Deep演 Intelligent was listed on May 27, closing its first trading day at HK$203, 2.66 times higher than its IPO price of HK$55.5. The stock price subsequently continued to rise, reaching a peak of HK$1,006 at the beginning of this month, representing a cumulative increase of 17.1 times from its listing price. The stock was included in the Stock Connect program on September 7; however, its share price reversed on the very day of inclusion, closing down 25.8%, and has fluctuated downwards in the following days. The current price is 59.4% lower than its all-time high since listing, but still 6.35 times higher than its listing price.
Currently, the Hang Seng Index stands at 24,389, down 371 points or 1.5%, with main board turnover exceeding HK$36.1 billion. The Hang Seng China Enterprises Index is at 8,131, down 134 points or 1.6%. The Hang Seng Tech Index is at 4,274, down 86 points or 2%. (vs)
Deep演 Intelligent announced a proposal to split each existing share into ten new shares, subject to shareholder approval. The group stated that, based on yesterday's closing price of HK$438.4, after the proposed share split and assuming a board lot size of 100 shares, the value per board lot would be adjusted from HK$43,840 to HK$4,384, which could lower the investment threshold, enhance trading liquidity, narrow bid-ask spreads, and improve trading efficiency.
Deep演 Intelligent was listed on May 27, closing its first trading day at HK$203, 2.66 times higher than its IPO price of HK$55.5. The stock price subsequently continued to rise, reaching a peak of HK$1,006 at the beginning of this month, representing a cumulative increase of 17.1 times from its listing price. The stock was included in the Stock Connect program on September 7; however, its share price reversed on the very day of inclusion, closing down 25.8%, and has fluctuated downwards in the following days. The current price is 59.4% lower than its all-time high since listing, but still 6.35 times higher than its listing price.
Currently, the Hang Seng Index stands at 24,389, down 371 points or 1.5%, with main board turnover exceeding HK$36.1 billion. The Hang Seng China Enterprises Index is at 8,131, down 134 points or 1.6%. The Hang Seng Tech Index is at 4,274, down 86 points or 2%. (vs)
