China's InnoScience hits near 7-week low on discounted share sale

InnoScience Suzhou Technology Holding Co

10/10/2025 05:18

** Shares of InnoScience Suzhou Technology Holding 2577.HK fall 7.3% to HK$76.05, their lowest since August 25, and on course for fourth straight session of decline

** Stock on track for the biggest one-day pct drop since  August 29; sixth biggest pct decliner on Hang Seng sub-index tracking information technology firms .HSCIIT, which falls 2.6%

** The China-based gallium nitride semiconductor product producer plans sale of 20.7 mln new shares in share placement, raising HK$1.56 bln ($200.50 mln) for capacity expansion, repay debt and for working capital

** Says the new shares will be offered at HK$75.58 apiece, or 7.9% discount to Thursday close of HK$82.05 each

** YTD, stock up 152.6%, Hang Seng Tech Index .HSTECH up 41.5%

($1 = 7.7807 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))