Property group Seazen drops most in 16 months on discounted share sale

Seazen

05/02/2026 02:30

** Shares of Seazen Group 1030.HK drop 14.2% to HK$2.41, on track for biggest one-day pct decline since October 2024

** Stock hits lowest level since January 29, down after two straight sessions of gains; top pct loser in the Hang Seng Composite Index tracking properties & construction segment .HSCIPC, which slips 0.4%

** Property management and development group plans sale of 198 mln new shares to controlling shareholder, raising HK$473.2 mln ($60.6 mln) for future development, debt repayment and for working capital

** The new shares will be issued at HK$2.39 each, a 14.95% discount to Wednesday's close of HK$2.81

** The controlling shareholder will buy the new shares following a sale of the same amount of existing shares at the same price to third party investors

** YTD, Hong Kong stock up 19.5%, the benchmark Hang Seng Index .HSI up 3.1%

($1 = 7.8102 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))