HK-listed mobile advertiser Mobvista jumps as Singapore's GIC lifts stake

Mobvista

13/04/2021 05:17

** Shares of Chinese mobile advertising services provider
and game publisher Mobvista Inc  1860.HK  surge as much as 19.2%
to HK$7.71, their highest since March 2, as Singapore's GIC
Private Ltd plans to raise stake in the company
    ** Stock last up 17%, on course for best day since Jan. 27
    ** Guangdong-based company plans sale of 72.48 mln new
shares, or 4.51% of the enlarged share capital, to its
controlling shareholder Seamless Technology, raising HK$427.6
mln ($55 mln) to expand its cloud business unit (https://bit.ly/2OJHEqz)
    ** Says the new shares will be issued at HK$5.90 apiece, or
at an 8.8% discount to Monday's close of HK$6.47 
    ** Says controlling shareholder will buy the new shares on
completion of sale of the same amount of existing shares at the
same price to GIC Private Ltd, which will hold less than 9% of
Mobvista after the deal from the current 3-4%  
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  slips 0.6%, the Hang Seng Tech Index  .HSTECH 
eases 0.3%
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.6%, and the benchmark index  .HSI  gains 0.9%
    ** By last close, the stock had surged 34.2% this year 
($1=7.7741 Hong Kong dollars)

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