China's Lingbao Gold slides on discounted sharesale

Lingbao Gold

11/03/2025 02:01

** Lingbao Gold Group 3330.HK slides 12.7% to HK$5.36; set for biggest one-day pct decline since April 2023

** Stock touches lowest since March 4

** Chinese gold miner plans sale of 43.5 million new shares, or 3.38% of enlarged share capital, to third party investors

** Says sale would raise HK$234 mln (~$30 mln), which will be used to fund mergers and acquisitions

** Adds new shares will be issued at HK$5.38, 12.38% discount to Monday's close

** YTD, stock gains ~87%

($1 = HK$7.7686)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))