Guoquan Food near eight-week low as key shareholder plans share sale at discount
16/04/2026 03:36
** Shares of Guoquan Food (Shanghai) 2517.HK plunge 15.3% to HK$3.65, their lowest level since February 23 ** Stock set for biggest one-day pct drop since November 2024 in a second straight session of fall ** China-based one-stop home meal products retail store network says key shareholder Shanghai Guoxiaoquan Enterprise Management Center plans sale of 124.5 mln existing shares to third party investors amid funding needs, reducing stake in the company to 7.88% from 12.61% ** The shares will be sold at HK$3.80 each, representing an 11.8% discount to Wednesday's close of HK$4.31 each ** Co says it does not expect the share sale to have any material adverse effect on its operations ** YTD, stock up 6.2%, benchmark Hang Seng Index .HSI up 2.2% (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com))
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