HK's I-Cable plunges, says no definitive fundraising plan

i-CABLE Communications

05/09/2018 03:06

** Shares of I-Cable Communications Ltd  1097.HK  fall 19.6
pct to HK$0.205, on track to end two straight sessions of gains,
after the television and telecommunication services provider
says it has no definitive fundraising plan
    ** Co says it is in discussions with a financial adviser to
explore possible fundraising options but has no definitive plan
nor has it entered into any agreements for any fundraising
activities (https://bit.ly/2PDhfp7)
    ** Its shares have risen 248 pct in the last two trading
days to HK$0.31, the highest since September 2017, after the
firm says it is in deal to provide services to a unit of China
Mobile Ltd  0941.HK  for up to 25 years  urn:newsml:reuters.com:*:nL3N1VQ1LG
    ** China Mobile says the partnership will lay the foundation
for 5G development
    ** As of the previous close, stock of I-Cable has risen
11.35 percent so far this year
    ** I-Cable has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 106.8 percentage points in the
past month
    ** Hong Kong benchmark index  .HSI  falls 1 pct

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