Metaspacex Probes Lender-Driven Sale of Controlling Shareholder’s Stock
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Metaspacex Limited reported that its controlling shareholder, China Sports Assets Management Limited, had 102,288,000 shares sold by a lender without authorization to meet repayment obligations. The company is investigating the buyers and their relationships to ensure compliance with Hong Kong regulations. Metaspacex maintains that its operations are unaffected and that China Sports still holds approximately 53.3% of its shares. The company is listed in Hong Kong under stock code 1796, with a market cap of HK$316.8M.
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