China's Joy Spreader jumps on completion of share sale

Joy Spreader

17/06/2022 04:49

** Shares of Chinese online media marketing service provider
Joy Spreader Group Inc  6988.HK  jump as much as 18.3% to
HK$2.65, their biggest daily pct rise since debut in September
2020, if gains hold
    ** Stock hits the highest since June 7; sixth-biggest pct
gainer in Hang Seng Composite Index  .HSCI  
    ** Beijing-based company says it has successfully completed
its sales of 192 mln new shares at HK$3.14 apiece in a top-up
placing, raising HK$602.9 mln ($76.80 mln) for developing its
overseas e-commerce business, expanding the scale and
consolidating its market position (https://bit.ly/3MT8dl6)
    ** Hang Seng Tech Index  .HSTECH  rises 1.4%, Hang Seng
Composite Index  .HSCI  climbs 0.5% and the benchmark Hang Seng
Index  .HSI  gains 0.8%
    ** As of last close, the stock had fallen 13.9% this year

($1 = 7.8499 Hong Kong dollars)

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