China's Lingbao Gold falls on discounted share sale

Lingbao Gold

18/04/2024 04:06

** Shares of Lingbao Gold Group Co Ltd  3330.HK  fall 8.3%
to HK$3.30, their lowest April 11, and are on course for the
fourth straight session of decline
    ** Stock on track for the biggest one-day pct fall since
April 15 
    ** The Chinese gold smelter plans sales of 26.9 mln shares
to third party investors, raising HK$81.3 mln ($10.38 mln) for
procurement of gold concentrate for the production of gold
bullion
    ** Co says new shares will be issued at HK$3.02 apiece,
representing a 16.1% discount to Wednesday's close of HK$3.60
each
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.1%,
while Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both add 1.3%
    ** Stock up 110% YTD  


($1 = 7.8307 Hong Kong dollars)

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