SU Group Shares Jump Over 100% After GEZE Pact; Dilution Still a Concern
Shares of SU Group Holdings Limited jumped Tuesday after the Hong Kong security-services company said it signed a distributorship deal with Germany’s GEZE. The agreement brings products like automatic door systems, window tech, smoke and heat extraction, access control and building automation into its offerings. SU Group said this will let it take on bigger and more complex smart-building jobs, including commercial, public, infrastructure and residential projects. Chairman and CEO Dave Chan called it “a big win for our customers” and said SU Group can now “compete with top tier players.” SUGP last traded at $1.84, gaining $0.9595 from the previous close. Shares opened at $2.39 and then climbed to a session high of $3.06. Volume hit 187.6 million shares, unusually high for a micro-cap. SUGP also dropped to $0.8364 earlier, showing big swings in the price.
