HK-listed Shengjing Bank falls on share sale plan

Shengjing Bank Co

23/04/2019 03:52

** Shares of Shengjing Bank Co Ltd  2066.HK  fall as much as
12.1 pct to HK$4.35, their lowest since April 11, after the bank
plans share sale to strengthen its core capital base 
    ** Stock ranks the 8th biggest percentage decliner in early
trade 
    ** The Liaoning-based bank says it plans to issue new shares
to existing shareholders in the proportion of 5.18 rights shares
for every 10 existing shares held, in a bid to enhance capital
strength, and to improve its capital adequacy ratio  urn:newsml:reuters.com:*:nFWN22206O
    ** Bank says it is also considering other fund-raising
methods including placing of shares to major shareholders and
potential investors  
    ** As of last close, stock up 45.2 pct so far this year
    ** Shengjing Bank has outperformed the Hang Seng Finance
Index sector  .HSNF  by 12.3 percentage points in the past one
month
    ** The Hang Seng Finance Index  .HSNF  edges down 0.1 pct,
and the Hang Seng China enterprises index  .HSCE  slides 0.5 pct


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