HK-listed knitwear maker Shenzhou hits 6-week low on $645 mln share sale

Shenzhou International group

11/11/2020 01:45

** Shares of Chinese knitwear products maker Shenzhou
International Group Holdings Ltd  2313.HK  fall as much as 9.3%
to HK$130.10, their lowest since Sept 30
    ** Stock set for worst day since March 23; the most actively
traded shares by turnover in early trade
    ** Stock is the biggest percentage decliner among the 50
constituent stocks in the benchmark Hang Seng Index  .HSI ; the
second-biggest percentage decliner on the Hong Kong bourse 
    ** The Zhejiang-based co says its major shareholders Keep
Glory Ltd and Fairco Group Ltd plan sales of HK$5 bln ($644.83
mln) shares to professional, institutional, and corporate
investors, reducing their stake in the company to 47.3% from
49.8%  urn:newsml:reuters.com:*:nFWN2HW1HF
    ** The shareholders plan sales of 37.57 mln existing shares
at HK$133.10 apiece, representing a 7.2% discount to Tuesday's
close of HK$143.5 each. The deal is set to complete on Nov 13
    ** Co says it does not expect the sale to have any material
impact its business or operations
    ** The Hang Seng China enterprises index  .HSCE  eases 0.5%,
and the benchmark index  .HSI  slides 0.3%
    ** As of last close, stock up 26% this year 

    ($1 = 7.7540 Hong Kong dollars)

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