Beijing Fourth Paradigm Technology drops on H share full circulation plan
** Shares of artificial intelligence platforms developer Beijing Fourth Paradigm Technology 6682.HK drop as much as 11% to HK$47.05, their lowest since May 28
** Stock last down 6.3%, heading for the biggest one-day pct decline since April 15
** Stock is fifth-biggest pct loser on Hang Seng IT index .HSCIIT and sixth-biggest decliner on Hang Seng Composite Index .HSCI, which are down 0.5% and 0.9% respectively
** Co, currently valued at $2.96 bln, says CSRC has accepted its application for implementation of H share full circulation and it has applied for conversion of 131.55 mln domestic shares held by certain shareholders into H shares
** Upon completion of the H share full circulation, all domestic shareholders participating in the plan will be required to fulfil share lock-up undertaking - Co
** Stock down 1.4% YTD
($1 = 7.8098 Hong Kong dollars)
Reporting by Donny Kwok
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