HK-listed Jiumaojiu falls as major shareholders cut stakes

Jiumaojiu International Holdings

11/11/2020 02:36

** Shares of China-based restaurants operator Jiumaojiu
International Holdings Ltd  9922.HK  fall 7.8% to HK$16.74,
their lowest since Nov. 4
    ** Stock last down 4%, set for the worst days since Sept. 21
    ** Guangdong-based company says its shareholders GYH J Ltd
and MT J Ltd have agreed to sell an aggregate HK$616.12 mln
($79.5 mln) worth of shares in a share sale, reducing their
stake to 44.97% from 47.49% (https://bit.ly/3lkMDJj)
    ** The shareholders plan sale of a total 36.5 mln shares at
HK$16.88 each, or 7% discount to previous close of HK$18.16
each, and says the shareholders' reduction of shareholding will
not have any material adverse effect on the company's operations
    ** The Hang Seng China enterprises index  .HSCE  edges down
0.04%, while the benchmark index  .HSI  gains 0.1%

($1 = 7.7542 Hong Kong dollars)

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