HK-listed crypto exchange operator BC Tech rises on share sale to Singapore's GIC

Talius

11/06/2021 06:36

** Shares of digital assets and crypto exchange operator BC
Technology Group Ltd  0863.HK  rise as much as 10.6% to
HK$21.30, the biggest intraday percentage gain since March 15 
    ** Plans to sell 31.95 mln new shares, or 7.62% of the
enlarged share capital, to Singapore's foreign reserves manager
GIC for HK$543.2 mln ($70 mln)  urn:newsml:reuters.com:*:nFWN2NS13K
    ** New shares will be issued at HK$17 apiece, or an 11.73%
discount to Thursday's close
    ** Says proceeds will be used to fund IT-related costs,
market expansion and working capital 
    ** Stock hits highest since June 3; among the 30 biggest
percentage gainer on the Hong Kong bourse
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  climbs 0.4%, while the Hang Seng Tech
Index  .HSTECH  slips 0.1%
    ** The Hang Seng China enterprises index  .HSCE  climbs 0.2%
and the benchmark index  .HSI  gains 0.4%
    ** The stock had risen 7.1% this year as of last close 
    ($1 = 7.7593 Hong Kong dollars)

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