Were There Any Significant Reasons Why The OneConnect (OCFT) Stock Increased 12% Extended Session?

OneConnect Financial Technology Co. Ltd. (OCFT) shares have gained 11.94% at $1.50 in Friday’s after-hours session. OneConnect (OCFT) stock subtracted -6.29% to finish last trading session at $1.34. The stock recorded a trading volume of 0.66 million shares, which is below the average daily trading volume published for the last 50 days of 1.53 million shares.

The shares of OneConnect (OCFT) have advanced -13.55% in the last five days; however, they have lost -25.14% over the last month. The stock price has shed -47.24% over the last three months and has lost -92.04 percent so far this year. OCFT stock surged following the announcement of its annual general meeting (AGM).

What OCFT will talk about in the AGM?

OneConnect (OCFT) is an innovation as-a-specialist organization for monetary foundations. OCFT incorporates broad monetary administrations industry ability with market-driving innovation to give innovation applications and innovation empowered business administration to monetary organizations. OCFT’s solutions empower its clients’ computerized changes, which assist them with further developing proficiency, improve administration quality, and lessen expenses and dangers.

OneConnect (OCFT) declared that it will hold its AGM yearly comprehensive gathering (the “AGM”) of investors of 2022 at 55F, Ping A Financial Center, No. 5033 Yitian Road, Futian District, Shenzhen, Guangdong, the People’s Republic of China on April 8, 2022, at 10:00 a.m. (nearby time).

Five recommendations will be submitted for investor endorsement at the yearly comprehensive gathering:

1. Regarding the proposed posting on the Hong Kong Stock Exchange, to alter and repeat the third corrected and rehashed notice and articles of the relationship of OCFT at present activities that will be taking effect right now preceding the fruition of the Company’s posting on the Hong Kong Stock Exchange (the “Posting”).
2. To endorse the allowing of an overall command to the Directors to designate, issue, or manage extra portions of OCFT not surpassing 20% of the absolute number of given shares quickly following the Listing, and which is contingent upon the Listing (the “Issuance Mandate”).
3. To endorse the conceding of an overall order to the Directors to practice powers of OCFT to repurchase portions of the Company addressing up to 10% of the absolute number of given shares quickly following the Listing, and which is restrictive upon the Listing (the “Repurchase Mandate”).
4. To support augmentation to the Issuance Mandate, with the end goal that the quantity of portions of OCFT bought under the Repurchase Mandate will likewise be added to expand the Issuance Mandate, given that such extra sum will not surpass 10% of the quantity of given OneConnect (OCFT) shares promptly following the Listing.
5. To approve every one of the directors of OCFT or Maples Corporate Services Limited to make related moves that may be important to impact the prior goals.