HK-listed property management firm Ever Sunshine falls on discounted share sale

Minsheng Education

04/06/2020 04:00

** Shares of China-based property management service
provider Ever Sunshine Lifestyle Services Group Ltd  1995.HK 
fall as much as 5.5% to HK$11.96, the lowest since May 29, and
are on track for the second straight session of fall  
    ** Stock ranks the third most actively traded shares in mid
morning trade 
    ** Shanghai-based firm plans to sell 134 mln new shares, or
8.02% of the enlarged share capital, to major shareholder Elite
Force Development Ltd, raising HK$1.58 billion ($203.9 mln) for
business development and for working capital  urn:newsml:reuters.com:*:nFWN2DG0TE
    ** The new shares will be issued at HK$11.78 apiece, or
6.95% discount to Wednesday's close of HK$12.66 each
    ** Elite Force will buy the new shares on completion of sale
of the same amount of existing shares at the same price to third
party investors
    ** As of last close, the Ever Sunshine stock had soared
139.8% so far this year 
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  declines 0.8%
    ** Beijing-based Minsheng Education Group Co Ltd  1569.HK ,
which plans HK$244 mln ($31.5 mln) sharesale at discount
 urn:newsml:reuters.com:*:nFWN2DG0XZ, falls 11.3% to HK$1.18 the lowest since May 13
    ** The Hang Seng China enterprises index  .HSCE  eases 0.3%,
and the benchmark index  .HSI  slides 0.2%


($1 = 7.7504 Hong Kong dollars)

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