Poly Xverse IT (00209) saw a notable shift in its shareholding structure on August 13, with deposited shares valued at a total of HK$165 million, representing 19.42% of the company's issued shares, according to the latest data from the Hong Kong Stock Exchange.

A shareholder transferred 12.912 million shares to Hongzhi Securities, boosting their stake by 8.69%.

Poly Xverse IT had previously announced that major shareholder Wang Jingyu planned to sell up to approximately 299 million shares. The company's board was informed by Ms. Wang that all placement shares were successfully placed to at least six placees at a price of HK$0.33 per share.

Based on all reasonable inquiries, the board confirmed that each placee and their ultimate beneficial owners are independent third parties, unconnected to the company or its related parties, and are not acting in concert. Additionally, no placee became a major shareholder of the company after the private placement. Following the completion of the private placement, Peak Access no longer holds any shares and thus ceases to be a major shareholder of the company.