HK-listed property management co Kaisa Prosperity falls on discounted share sale plan

Kaisa Prosperity Holdings

09/06/2020 02:46

** Shares of Kaisa Prosperity Holdings Ltd  2168.HK  fall as
much as 9.3% to HK$32.80, their lowest since June 1, after the
property management services provider announces share sale plan
worth HK$455.7 mln ($58.80 mln) at discount
    ** Stock ranks the second-most actively traded shares in
early trade, and the fifth-biggest percentage decliner on the
Hong Kong bourse 
    ** The stock heads for biggest intraday pct decline since
May 22
    ** Guangdong-based firm plans to sell 14 mln new shares to
major shareholder Ye Chang Investment Co Ltd, an indirect unit
of Kaisa Group Holdings  1638.HK , at HK$32.55 each, raising
capital for business development, working capital  urn:newsml:reuters.com:*:nFWN2DL107
    ** The issue price represents a 9.96% discount to Monday's
close of HK$36.15
    ** Ye Chang will buy the new shares on completion of sale of
same amount of existing shares at the same price to third party
investors
    ** As of last close, stock up 72.1% this year
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.4%, and the benchmark index  .HSI  rises 0.5%
    ($1 = 7.7503 Hong Kong dollars)

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