China's Jinxin Fertility falls on discounted share sale; Morimatsu drops

Morimatsu International Holdings

05/01/2023 04:20

** Shares of China's assisted reproductive services provider
Jinxin Fertility Group Ltd  1951.HK  fall as much as 6.7% to
HK$6.82, their biggest intraday pct decline since Dec 12
    ** Stock hits lowest since Dec 22 and set for a second
session of losses
    ** The Sichuan-based co plans sale of 175 mln new shares to
major shareholder JINXIN Fertility Investment, raising HK$1.18
bln ($150.95 mln) for redemption and repayment of outstanding
convertible bonds and working capital  urn:newsml:reuters.com:*:nFWN33P0YZ
    ** Co says new shares will be issued at HK$6.725 apiece, or
an 8% discount to Wednesday's close of HK$7.31 each
    ** Says the major shareholder will buy the new shares
following sale of the same amount of existing shares at the same
price to third-party investors
    ** Shares of Morimatsu International  2155.HK  fall as much
as 10.3% to HK$8.49, after the pressure equipment maker plans
sale of 80 mln new shares at HK$8.30 each, or 12.35% discount to
Wednesday's close, raising HK$664 mln for plants contruction in
China and in Malaysia  urn:newsml:reuters.com:*:nFWN33P0RE
    ** The Hang Seng Commerce & Industry Index  .HSNC  jumps
2.3%, the Hang Seng Composite Index  .HSCI  climbs 1.3% and the
Hang Seng Index  .HSI  gains 1.4%
    ($1 = 7.8171 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))