China's JD Logistics drops most on record on discounted share sale; JD.com falls

JD Logistics

25/03/2022 02:33

** Shares of China's JD Logistics  2618.HK  drop as much as
13.9% to HK$19.80 - set for biggest daily percentage decline
since debut on May 28 last year, if losses hold
    ** Stock of logistics services provider sinks to lowest
since March 16, down for a second straight session
    ** Biggest percentage decliner in the Hang Seng China
Enterprises Index  .HSCE  and second biggest in the Hang Seng
Composite Index  .HSCI  
    ** Co to raise HK$8.53 bln ($1.09 bln), according to a Hong
Kong Stock Exchange filing  urn:newsml:reuters.com:*:nL3N2VR4OT
    ** Co will price its issue of new shares at HK$20.71 each,
representing a near 10% discount to Thursday's close
    ** Deal consists of a placement of about $700 mln worth of
shares to parent company JD.com  9618.HK  and about $400 mln in
a primary share sale
    ** Hong Kong shares of Chinese e-commerce group JD.com fall
as much as 3.9% to HK$232.20, lowest since March 18
    ** The Hang Seng Tech Index  .HSTECH  slips 0.7% and the
Hang Seng Composite Index declines 0.5%
    ** The Hang Seng China Enterprises Index  .HSCE  eases 0.6%,
and the benchmark Hang Seng Index  .HSI  down 0.4%

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