HK-listed China Risun falls most in 3 months on $267 mln share sale

China Risun

27/05/2021 05:13

** Shares of coke and refined chemicals supplier  1907.HK 
fall as much as 7.3% to HK$5.58, on course for worst session
since Feb. 26
    ** Stock on track to snap four straight sessions of gains   
    ** Beijing-based co plans sale of 350 mln new shares, or
7.88% of the enlarged share capital, to third-party investors
    ** Sale will raise HK$2.07 bln ($266.7 mln) that co will use
to upgrade facilities and for potential M&A and general
corporate purposes  urn:newsml:reuters.com:*:nFWN2ND0ZH
    ** Says new shares will be sold at HK$5.90 each, or 1.99%
discount to Wednesday's close 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slips 0.4%, and the material index  .HSCIM  gains 0.1%
    ** The Hang Seng China enterprises index  .HSCE  slides
0.4%, and the benchmark index  .HSI  eases 0.3%
    ** By last close, the stock had soared 118.1% this year


($1 = 7.7612 Hong Kong dollars)

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