Hong Kong Stock Puxing Energy Closes Up 141.38% After Announcing Subscription to Preferred Shares of an Exchange

On July 10, shares of Hong Kong-listed company Puxing Energy (0090) surged nearly 280% during the morning session. By the close, the stock was up 141.38% at HKD 1.40, having reached a high of HKD 2.24. Previously, the company announced that it had subscribed to Series A preferred shares issued by a certain exchange, acquiring a stake of no more than 5% and becoming a shareholder.