Clothing retailer Joyce Boutique Holdings Ltd (H.JOY) has restored the amount of its shares held by the public to above 25 per cent, complying with the Hong Kong stock exchange's listing rule, the company said Tuesday.

As of December 15, 25.01 per cent of Joyce's shares were publicly held, after Joyce's major shareholder Wheelock & Co (H.WIH) sold an unspecified amount of Joyce shares in the open market, Joyce said in a stock exchange statement. Wheelock currently holds 51.99 per cent in Joyce.

Last week, Joyce applied to the stock exchange to extend a wavier from compliance with a listing rule the requires at least 25 per cent of a listed company's shares to be held by the public.

Joyce's free-float fell below 25 per cent earlier this year after Wheelock bought a majority stake in the retailer and made a general offer for the remaining shares. Joyce shares remained untraded Monday. They closed last Friday flat at 22.8 HK cents.