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SFC: Shares of Fullwealth (01034) highly concentrated
15 Mar 2019
(Infocast News) The Securities and Futures Commission (SFC) has recently completed an enquiry into the shareholding of Fullwealth Construction Holdings (01034). The market watchdog's findings suggested that as at 22 February 2019, a group of 19 shareholders held an aggregate of 329,680,000 shares of the company, representing 20.6% of the issued shares. Such shareholding, together with 1,200,000,000 Shares (representing 75.0% of the issued shares) held by the controlling shareholder of the company, represented 95.6% of the issued shares as at 22 February 2019. Therefore, only 70,320,000 shares (representing 4.4% of the issued Shares) were held by other shareholders.

In view of the high concentration of shareholding in a small number of shareholders, shareholders and prospective investors should be aware that the price of the shares of the company could fluctuate substantially even with a small number of shares traded, the SFC warned.

(WL)
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