The Zhitong Finance App learned that STERLING GP (01825) has continued to drop by more than 17% and has fallen by more than 80% in the past three days. As of press release, it decreased by 17.36% to HK$2, with a turnover of HK$11.2408 million.

According to the news, in the month from August 14, STERLING GP has continuously made multiple transfers and changes in positions, accounting for up to 16.54% in a single transaction, involving various brokerage seats such as Zhuorui Securities, Yongfengjin Securities, and Yuanda Securities. On September 17, the scale of the stock transfer was further expanded. The market value of the stock transfer reached HK$757.97 million in a single day, accounting for 22.89%, the highest single transaction during the period. Shareholders transferred 2,954 million shares to Yuanta Securities Hong Kong, and another 2.06 million shares were transferred out of Tachibashi Securities.

STERLING GP is an investment holding company mainly engaged in the manufacture and trade of clothing products. At the beginning of this month, the company issued a placement announcement. It plans to place a maximum of 8.294,400 shares at HK$6.8 per share, a discount of about 19.53% from the closing price of HK$8.45 on the same day. The net capital raised is expected to be about HK$55.9 million. The proceeds are intended to be used to expand the apparel business and supplement general working capital.

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