China's Laopu Gold drops most in 12 weeks on discounted share sale

Laopu Gold Co

22/10/2025 03:56

** Shares of Chinese gold jewellery maker and distributor Laopu Gold Co Ltd 6181.HK drop 8.1% to HK$705, on track for the biggest one-day pct decline since July 31

** Stock hits the lowest since October 15 and on course for a third straight session of fall

** Laopu plans sale of 3.7 mln new shares, representing 2.15% of enlarged share capital, to third party investors, raising HK$2.71 bln ($348.89 mln) for inventory reserves, boutiques expansion and to replenish working capital

** The new shares will be issued at HK$732.49 each, a 4.5% discount to Tuesday's close of HK$767

** Stock has nearly tripled in value YTD, Hang Seng Consumption Index .HSCGSI up 13.2%

($1 = 7.7675 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))