HK Stock Market Move | SANVO CHEMICALS (00301) rose by more than 3%, with the stock price rising more than 2.3 times since June. The controlling shareholder, SFCL, plans to sell up to approximately 17% of the company's shares.

SANVO CHEMICALS (00301) rose more than 3%, with the stock price more than doubling since June. As of the time of writing, it was up 3.34% at HK$6.19, with a trading volume of HK$4.92 million. In terms of news, SANVO CHEMICALS announced that its board of directors had been informed by a major shareholder, Sanvo Fine Chemicals Limited (SFCL), on July 16, 2026, that it had agreed to sell a total of 37.636 million shares of the company through a placement agent at a best endeavor placement price, equivalent to approximately 8% of the company's issued share capital as of the date of the announcement. In addition, SFCL further agreed that, depending on market conditions, it could sell an additional 42.341 million shares of the company through the placement agent at a best endeavor placement price, equivalent to approximately 9% of the company's issued share capital as of the date of the announcement. The board of directors expects that the sale will not have any adverse impact on the group's business operations and financial condition.