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PNB Housing Finance Shares Tumble After Large Trades

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PNB Housing Finance Shares Tumble After Large Trades

Shares of PNB Housing Finance Ltd. fell nearly 7% on Thursday after 5.2% equity changed hands in a bunch.

The home loan provider had 13.6 crore shares changed hands at Rs 773 apiece in a bunch trade, Bloomberg reported. The total value of the stake sale is over Rs 10,512 crore.

Foreign portfolio investors Asia Opportunities V (Mauritius) Ltd. and General Atlantic Singapore Fund FII Pte. were the likely sellers, Bloomberg reported, quoting the term sheet for the large trade.

The floor price is at an 8% discount to the previous close of Rs 840 apiece. BNP and UBS are joint placement agents for the sale of stakes, according to Bloomberg.

As of March 2024, Asia Opportunities held a 9.88% stake in the housing finance company and General Atlantic held 9.82%. The same companies had divested on May 29 over 58 lakh shares each of PNB Housing Finance shares (2.23% equity) for an aggregate amount of Rs 844 crore.

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3 stocks to watch in 2026

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3 stocks to watch in 2026
Looking to add some new stocks to your portfolio? Gibbens Capital president and chief investment officer Mark Gibbens has three suggestions. Find out what they are in the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination.
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Hong Kong to boost tech and finance services integration amid AI boom: Paul Chan

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Hong Kong to boost tech and finance services integration amid AI boom: Paul Chan

Hong Kong’s finance chief has pledged to further integrate financial services with technology innovation to foster a thriving ecosystem, following a surge in investor interest in artificial intelligence-related stocks during the first trading day of the year.

Financial Secretary Paul Chan Mo-po on Sunday also emphasised Hong Kong’s role as an international capital market in fuelling the growth of frontier mainland Chinese tech firms with the city’s funding and liquidity.

“We welcome these enterprises to list and raise capital in Hong Kong and also encourage them to settle in the city to establish research and development (R&D) centres, transform their research outcomes, and set up advanced manufacturing facilities,” Chan said on his weekly blog.

“We support them in establishing regional or international headquarters in Hong Kong to reach international markets and strategically expand across Southeast Asia and the globe.”

The Hang Seng Index kicked off 2026 with a bang, surging over 700 points – a 2.8 per cent jump that marked its strongest opening since 2013.

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Innovation and technology giants spearheaded the rally, with the Hang Seng Tech Index soaring 4 per cent as investor appetite for AI-related stocks reached a fever pitch.

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