HK-listed property management co Greentown Service slip on discounted $350 mln share sale

Greentown Service

03/06/2020 03:44

** Shares of Chinese property management service provider
Greentown Service Group Co Ltd  2869.HK  fall as much as 5.7% to
HK$10.34, after three consecutive sessions of gains 
    ** The stock heads for biggest intraday pct decline since
April 3
    ** Co plans sale of 266.6 mln new shares, or 8.29% of the
enlarged share capital, to third party investors, raising
HK$2.71 bln ($349.65 million) to fund merger and acquisition,
strategic investments and for working capital   urn:newsml:reuters.com:*:nFWN2DF0UW
    ** Says the shares will be issued at HK$10.18 apiece, or
7.12% discount to Tuesday's close of HK$10.96 per share 
    ** As of last close, the stock has risen 28.8% this year
    ** Zhejiang-based Greentown Service has outperformed the
Hang Seng Commerce & Industry Index sector  .HSNC  by 7.4
percentage points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 0.7%
    ** The Hang Seng China enterprises index  .HSCE  rises 1.2%,
and the benchmark index  .HSI  gains 1%


($1 = 7.7505 Hong Kong dollars)

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