Powell Max shares surge 39.65% pre-market after ECF acquires indirect controlling stake via ownership change.

Powell Max Limited surged 39.65% in pre-market trading following the announcement that Po Man Stella Leung has ceased to be the controlling shareholder, with ECF acquiring indirect beneficial ownership. The company disclosed this significant ownership change in SEC filings, indicating a strategic shift in corporate governance. This development likely sparked investor optimism about potential operational restructuring or new strategic initiatives under ECF’s influence, aligning with the stock’s sharp upward movement.