Changes in Hong Kong stocks | Leader Education (01449) fell more than 27% and was named by the Hong Kong Securities Regulatory Commission for a high degree of equity concentration, and had soared more than fivefold in the previous two months

The Zhitong Finance App learned that Leader Education (01449) fell sharply this morning. As of press release, it had fallen 25.21% to HK$0.905, with a turnover of HK$1,5361 million.

According to the news, on October 14, according to the results of an investigation conducted by the Hong Kong Securities Regulatory Commission on the distribution of shares in Leader Education, on October 6 this year, 20 shareholders held a total of about 230 million shares, accounting for 28.74% of the issued shares. Together with the two controlling shareholders and one major shareholder, they hold approximately 497 million shares, accounting for a total of 90.82% of the issued shares, which means that only 73.41 million shares, or 9.18% of the issued shares, are held by other shareholders, and the shares are highly concentrated.

In response to the announcement, Leader Education stated that it will conduct further investigations on the equity matters contained in the Hong Kong Securities Regulatory Commission announcement and issue further announcements as soon as possible, while confirming that the public shareholding volume is not less than 25% and has complied with the listing rules. The closing price of the company's shares rose 527% from HK$0.31 on July 21 to HK$1.945 on October 6, and closed at HK$1.225 on October 13, which was still 295% higher than on July 21.