A-Living drops most on record on shareholders' discounted share sale

A-Living Smart City Services

19/08/2022 03:31

** Shares of Chinese property manager A-Living Smart City
Services  3319.HK  drop as much as 17.2% to HK$6.91, their
lowest and biggest daily pct drop since debut in February 2018, 
as shareholders plan HK$550 mln ($70.10 million) stake sale
    ** Stock is the biggest pct decliner in Hang Seng Composite
Index  .HSCI  and Hang Seng Composite Index on properties and
construction stocks  .HSCIPC ; biggest pct loser on the Hong
Kong bourse
    ** Chinese property developer Agile Group  3383.HK  plans
sale of 49 mln A-Living shares to third party investors in a
block trade, raising HK$343.49 mln to strengthen its balance
sheet and financial liquidity  urn:newsml:reuters.com:*:nFWN2ZU5HV
    ** Another shareholder Gongqingcheng A-Living Investment
Management also plans sale of 29.5 mln A-Living shares in
another block trade for HK$206.8 mln
    ** The shares are to be sold at HK$7.01 apiece, representing
a 16% discount to Thursday's close of HK$8.35 each
    ** Shares of Agile Group falls 1.2%   
    ** Hang Seng Mainland Properties Index  .HSMPI  rises 1% and
Hang Seng Composite Index on properties and construction stocks
 .HSCIPC  gains 0.3%
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both climb 0.3%
    ** As of last close, A-Living shares had fallen 37.2% this
year
    ($1 = 7.8460 Hong Kong dollars)

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