Shanghai MicroPort Medical Robot hits record low on discounted share sale

Shanghai MicroPort MedBot (Group)

27/06/2024 03:28

** Shares of Chinese surgical instruments developer Shanghai
MicroPort Medical Robot Group Co Ltd  2252.HK  drop 16.5% to
HK$9.44, their lowest since debut in November 2021
    ** Stock on course for the biggest one-day pct decline since
 March 2022, if trend holds
    ** Top loser in Hang Seng Composite Index  .HSCI  and fourth
biggest decliner on the Hong Kong bourse
    ** Co plans sale of 12.9 mln new shares, or 1.33% of the
enlarged share capital, to third party investors
    ** New shares are to be issued at HK$9.10 apiece, or a 19.5%
discount to Wednesday's close of HK$11.30 each
    ** Hang Seng Commerce & Industry Index  .HSNC  drops 1.6%,
Hang Seng Composite Index  .HSCI  eases 1.4% and Hang Seng Index
 .HSI  falls 1.5%
    ** Stock down 53.9% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))