HK-listed New Horizon Health falls on discounted share sale

New Horizon Health

18/01/2023 02:06

** Shares of Chinese medical screening products developer
New Horizon Health Ltd  6606.HK  fall as much as 6% to HK$29,
the third most actively traded by turnover on the Hong Kong
bourse
    ** Co plans to sell 27.5 mln new shares to major shareholder
Yiyou Chen, raising HK$775.1 mln ($99.10 mln) in net proceeds
    ** Co to use proceeds for development and commercialisation
of pipeline products, including CerviClear, LiverClear and
pan-cancer early detection pipeline programmes, and to expand
operational capacity
    ** The new shares will be issued at HK$28.38 apiece, an 8%
discount to previous close of HK$30.85
    ** Zhejiang-based co says the major shareholder will buy the
new shares following sales of the same amount of existing shares
at the same price to third party investors 
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.5% and the healthcare index  .HSCIH  falls 1.6%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both slip 0.2%
($1 = 7.8217 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))