Time Interconnect drops most in 7 months on discounted share sale

Time Interconnect Technology

12/05/2026 02:58

** Shares of Time Interconnect Technology 1729.HK drop 10.9% to HK$21.64 on course for the biggest one-day pct fall since October 17

** Stock touches its lowest since May 6

** Chinese cable assembly products maker plans sale of 138.096 million new shares, or 6.19% of the enlarged share capital, to third-party investors, raising HK$2.9 billion ($370.43 million) for overseas expansion, repay bank borrowings, and for acquisitions, among others

** The new shares will be issued at HK$21 apiece, or a 13.58% discount to Monday's close of HK$24.30 each

** YTD, stock up 29.1%, benchmark Hang Seng Index .HSI up 3.3%

($1 = 7.8288 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))