HK-listed China New Higher Education falls on $50 mln share sale

China New Higher Education

10/04/2019 02:51

** Shares of China New Higher Education Group Ltd  2001.HK 
fall as much as 8.1 pct to HK$3.61, after the education services
provider plans HK$393 million ($50.2 million) share sale to
repay debt and for general corporate purposes 
    ** Beijing-based firm plans sale of 110 million new shares
to major shareholder Aspire Education Technology at HK$3.57
apiece, or 9.2 pct discount to previous close  urn:newsml:reuters.com:*:nFWN21R0UZ
    ** Aspire will buy the new shares on completion of sale of
the same amount of existing shares at the same price to third
party investors, trimming its stake in the firm to 12.72 pct
following the deal from 13.70 pct  
    ** As of last close, the stock had risen 14.9 pct so far
this year
    ** China New Higher Education Group has underperformed the
Hang Seng Commerce & Industry Index sector  .HSNC  by 15.8
percentage points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.8 pct, and the Hang Seng China enterprises index  .HSCE 
slides 0.7 pct
    
($1 = 7.8352 Hong Kong dollars)

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