IT Tech Packaging: Plunges on stock-and-warrants offering

IT Tech Packaging

25/02/2021 10:06

** U.S.-listed shares of Chinese paper products maker and
distributor  ITP.A   ITP.N  slump 13% to 87 cents premarket
    ** Stock among the top pct losers among companies listed on
the NYSE 
    ** Co prices offering of 26.7 mln shares and warrants to
purchase up to 13.3 mln shares of its common stock 
    ** Each share is being sold together with a warrant to
purchase one half share of common stock at a combined price of
$0.75 
    ** Gross proceeds are expected to be $20 mln
    ** The offering is expected to close around March 1

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))