Hong Kong-listed Coolpad jumps most in over a year on sale of new shares

Coolpad

05/10/2021 05:02

** Shares of wireless application service provider Coolpad
Group Ltd  2369.HK  jump 22.1% to HK$0.415, their highest since
May 4, the biggest daily pct gain since September 2020,  
    ** Guangdong, China-based company plans sale of 3 bln new
shares, or 21.73% of the enlarged share capital, to investors at
HK$0.28 apiece and HK$45.1 mln worth of warrants, raising a
total HK$885.1 mln ($113.5 mln)  urn:newsml:reuters.com:*:nFWN2R00IH
    ** Investors include newcomer SAI Growth Fund, Great Fortune
and Sharp Ally 
    ** Says proceeds will be used for international expansion of
its smartphone business and for working capital, and the deal
will help strengtheng its financial position 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1%, and the Hang Seng Tech
Index  .HSTECH  slips 0.3%
    ** The Hang Seng China Enterprises Index  .HSCE  edges up
0.01% and the benchmark index  .HSI  climbs 0.2%
    ** As of last close, stock had surged 48% this year

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