Shares of jailed tycoon Jimmy Lai's Next Digital set to open up 142% on trade resumption

© Reuters. FILE PHOTO: The logo of Next Digital Ltd is seen on the facade of its building in Hong Kong, China May 17, 2021. REUTERS/Lam Yik

HONG KONG (Reuters) – Shares of tycoon Jimmy Lai’s Next Digital Ltd were set to surge 142% on resumption of trade on Thursday, a week after authorities froze assets of its jailed owner under a sweeping national security law imposed on the financial hub by Beijing.

Next Digital, which had a market value of HK$490 million based on its last trading price of HK$0.186 before a suspension, was set to open at HK$0.45.

It was quoted up as much as 3,125% in pre-trade.

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