China's hotpot chain Haidilao drops on discounted share sale

Haidilao International Holding

12/11/2021 01:48

** Shares of Chinese hotpot chain operator Haidilao
International Holding Ltd  6862.HK  fall as much as 8.1% to
HK$20.40, set for worst day since Oct. 25 
    ** Stock is the most actively traded by turnover in early
trade; the biggest pct decliner in Hang Seng Index  .HSI  and
Hang Seng China Enterprises Index  .HSCE  
    ** Beijing-based Haidilao plans to sell HK$2.35 bln ($301.6
mln) of new shares in a top-up placing, raising capital for
repayment of credit facilities and to enhance supply chain
management and product development  urn:newsml:reuters.com:*:nL1N2S300D
    ** Company plans to sell 115 mln new shares to major
shareholder SP NP Ltd at HK$20.43 apiece, a 7.97% discount to
Thursday's close 
    ** The Hang Seng consumer goods and services index  .HSCGSI 
rises 1%, and the Hang Seng Composite Index  .HSCI  gains 0.7%
    ** The Hang Seng China Enterprises Index  .HSCE  and the
benchmark index  .HSI  both climb 0.7%
    ** As of last close, the stock fell 62.8% this year

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