Pangborn Group falls more than 8% as major shareholder reduces stake

Pangborn Group (148.HK) fell more than 8% during regular trading to HK$77.350. Citigroup stated that the stock decline is primarily driven by selling pressure from management, with the Zhang family reducing their holding through Hallgain Management Limited from 34.3% to 31.98%. The bank warned this could limit short-term upside potential despite attractive valuations, recommending focus on Pangborn Laminates instead.