HK's Beijing Enterprises Water hits 7-wk high on share sale plans

Beijing Enterprises Water

21/01/2019 07:45

** Shares of Beijing Enterprises Water Group Ltd  0371.HK 
rise as much as 4.7 pct to HK$4.49, their highest since Dec. 7
    ** The sewage and water treatment services provider says https://bit.ly/2CzhYme
 it will sell HK$2.02 billion ($257.5 million) worth of new
shares, or 4.76 pct of the enlarged share capital, to a unit of
China Three Gorges Corp
    ** Co says the proceeds raised will be used to fund its
investment in water projects and for the construction of water
environment comprehensive renovation projects 
    ** Co also says http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0120/LTN20190120005.pdf
 it will sell 127.75 mln new shares at HK$4.29 apiece to
controlling shareholder Beijing Enterprises Environmental
Construction Ltd, raising HK$548 mln for repayment of debt
    ** Beijing Enterprises Water has underperformed the Hang
Seng Commerce & Industry Index sector  .HSNC  by 3.3 percentage
points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 0.7 pct, the benchmark index  .HSI  edges up 0.3 pct

($1 = 7.8442 Hong Kong dollars)

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))