BRIEF: Surging Laopu Gold to boost share float after full circulation approval

Gold jewelry maker and retailer Laopu Gold Co. Ltd. (6181.HK) said on Tuesday it has received approval from the Hong Kong Stock Exchange to make all of its H-shares freely tradable.

Following the approval, three shareholders will convert their entire 40.39 million non-tradable shares into freely circulating H-shares, representing 23.99% of the company’s total H-share float, according to the announcement.

Laopu’s stock has risen 20-fold since its June 2024 IPO,w hich it priced at HK$40.5 per share. The company’s shares fell nearly 8% on Wednesday, closing at HK$799.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here