HK's e-commerce firm DTXS plunges on share sale at discount

DTXS Silk Road Investment Holdings Co

17/07/2019 04:09

** Shares of DTXS Silk Road Investment Holdings Co Ltd
 0620.HK  fall as much as 20.3% to HK$5.17, the lowest since
July 3, after the auction and e-commerce operator says it will
sell stake to a unit of New World Development  0017.HK  at
discount  
    ** Co has agreed to sell 111.19 million new shares, or 16.7%
of the enlarged share capital, to a unit of New World
Development, raising HK$599 mln ($76.7 mln) to fund cultural
business development and for working capital  urn:newsml:reuters.com:*:nFWN24H1B9  
    ** Co has agreed to sell the shares at HK$5.3873 apiece,
about 17% discount to previous close
    ** Stock ranks the 8th biggest percentage decliner in early
trade
    ** The stock later trims loss to HK$5.83, still down 10.2% 
    ** Stock of New World Development slides 0.5%
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.4%, and the benchmark index  .HSI  is down 0.5%
    
($1 = 7.8136 Hong Kong dollars)

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