Copies of the Apple Daily newspaper, with front pages featuring Hong Kong media tycoon Jimmy Lai, on sale at a news-stand in Hong Kong on August 11, 2020. Photo: AP
Copies of the Apple Daily newspaper, with front pages featuring Hong Kong media tycoon Jimmy Lai, on sale at a news-stand in Hong Kong on August 11, 2020. Photo: AP
Business /  Markets

1,200 per cent rally in Next Digital puts Apple Daily’s publisher among Hong Kong’s biggest media groups, sparks calls for regulatory probe

  • Shares of the Apple Daily publisher soared for the second day on Tuesday, surpassing TVB in market value at the peak of its rally
  • The stock jumped in the two days following the arrest of its founder Jimmy Lai, bolstering his paper wealth to HK$2.07 billion (US$266 million)

Yujing Liu
Yujing Liu

Updated: 10:38pm, 12 Aug, 2020

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Copies of the Apple Daily newspaper, with front pages featuring Hong Kong media tycoon Jimmy Lai, on sale at a news-stand in Hong Kong on August 11, 2020. Photo: AP
Copies of the Apple Daily newspaper, with front pages featuring Hong Kong media tycoon Jimmy Lai, on sale at a news-stand in Hong Kong on August 11, 2020. Photo: AP

Corrected [8:17pm, 11 Aug, 2020]

  • [8:17pm, 11 Aug, 2020]

    Corrects the price change to 1,200 per cent from 1,300 in the headline in an earlier version of this story

  • [12:50pm, 12 Aug, 2020]

    Corrects third paragraph to show Next Digital's market value behind Tom Group and TVB, based on closing prices on Tuesday

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