China Everbright Int'l plummets to 5-year low on share issue

China Everbright Environment

14/08/2018 06:55

** Shares in investment firm China Everbright International
Ltd  0257.HK  plunge 25 pct to HK$6.51, hitting a five-year low,
as it plans to issue new shares at a discount to market price
    ** Stock set for worst day since since October 2008
    ** The Hong kong-based investment holding company mostly
engaged in energy and infrastructure-related businesses said on
Tuesday it plans to raise about HK$9,962 million before
expenses, by issuing 1.66 billion shares at HK$6 per share, a 31
pct discount to its Monday close  urn:newsml:reuters.com:*:nFWN1V41CE
    ** Co's H1 profit rises 23 pct to HK$2.20 billion versus
HK$1.80 billion  urn:newsml:reuters.com:*:nFWN1V41AP 
    ** As of the previous close, the stock had fallen 21.59
percent so far this year while the Hang Seng Index  .HSI  is
down 6.6 percent
    ** China Everbright has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 7.1 percentage
points in the past one month

 ((Reuters Messaging: doris.li.thomsonreuters.com@reuters.net))