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LAOPU GOLD Last Up 14.03% after Shattering Above $1,000 and Setting New High
Recommend 20 Positive 21 Negative 7 |
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LAOPU GOLD (06181.HK) opened 2% higher today, hitting a record high of HKD1,018. It last traded at HKD1,000, up 14.03%, with 1.9708 million shares traded, involving HKD1.915 billion. Marking one year since its listing, LAOPU GOLD had its 12 major shareholders, holding approximately 143 million shares of the company, would see their shares unlocked, representing over 80% of the total share capital. However, the market remained unfazed by the unlocking and continued to be optimistic about LAOPU GOLD. Besides, the company’s Marina Bay Sands store in Singapore opened on June 21. Nomura recently noted strong footfall at this first overseas boutique store in the Marina Bay Sands shopping center, raising its target price to HKD1,023 with a Buy rating. JPMorgan analysts, after a site visit, also reported bustling footfall with 4-10 orders per hour, while spotting that the store’s service and display standards are comparable to flagship stores in T1 cities in mainland China. AAStocks Financial News |
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