China's 3D Medicines falls on discounted share sale

3D Medicines

14/07/2023 04:13

** Shares of China's 3D Medicines Inc  1244.HK  fall as much
as 8.8% to HK$113.10, snapping six straight sessions of gains
    ** Stock set for biggest one-day pct drop since June 28, if
losses hold; biggest pct loser in Hang Seng Composite Index
 .HSCI  
    ** Shanghai-based biopharmaceuticals products developer says
it plans to sell 2.15 mln shares in a share placement, raising
HK$232.2 mln ($29.71 mln) to fund clinical trial and procurement
of new machineries  urn:newsml:reuters.com:*:nFWN38Z1TC
    ** Says the shares will be sold at HK$108.00 apiece, or a
12.9% discount to the previous close of HK$124 each
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.5% while healthcare index  .HSCIH  slips 0.1%
    ** The Hang Seng Composite Index  .HSCI  gains 0.5% and the
Hang Seng Index  .HSI  adds 0.6%
    ** As of last close, the stock had soared 192% this year
 ($1 = 7.8165 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))