Hong Kong-listed Dongyue Group falls most in two weeks on share sale

Dongyue

01/09/2021 04:37

** Chemical engineering firm Dongyue Group Ltd's  0189.HK 
shares fall 8.6% to HK$24.50, biggest daily pct decline since
Aug. 17
    ** Company's shares on track to snap two consecutive
sessions of gains
    ** Dongyue second-biggest pct decliner on material index
 .HSCIM , third-biggest decliner on Hang Seng Composite index
 .HSCI  and third most actively traded by turnover
    ** Shandong, China-based refrigerants and polymers maker
plans sale of 145 mln shares, or 6.43% of its enlarged share
capital, to third party investors raising HK$3.3 bln ($424.3
mln) to enhance production capacity and replenish working
capital  urn:newsml:reuters.com:*:nFWN2Q20Q7
    ** The shares will be issued at HK$23 apiece, representing a
14.2% discount to Tuesday's close of HK$26.80
    ** Hong Kong's material index  .HSCIM  falls 3.1%, while
Hang Seng Composite index  .HSCI  gains 0.9%
    ** Hang Seng China Enterprises index  .HSCE  jumps 1.5% and
the benchmark index  .HSI  climbs 0.8%
    ** Company's shares up more than 4x this year, as of last
close 
 ($1 = 7.7776 Hong Kong dollars)

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