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Media & Entertainment

Shares of Apple Daily publisher soar despite Jimmy Lai asset freeze

Hong Kong sympathizers rally to show support for Next Digital

Next Digital shares rose as much as 330% on Thursday before ending the day up 50.5%.   © Reuters

HONG KONG -- Shares of Next Digital, publisher of Hong Kong's outspoken Apple Daily newspaper, soared up to 330% as they resumed trading on Thursday for the first time since the city government froze founder Jimmy Lai's controlling stake in the company.

The 71.3% stake, along with the bank accounts of three private companies owned by Lai, were frozen by order of Security Secretary John Lee on May 14 in relation to charges the businessman faces under the Hong Kong national security law of colluding with foreign forces for his alleged role in supporting calls for other nations to sanction Hong Kong and China.

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