Hong Kong-listed Wasion falls on discounted share sale

Wasion Holdings

21/04/2026 03:19

** Shares of advanced metering infrastructure developer Wasion Holdings 3393.HK fall 6.4% to HK$29.9, their lowest level since April 14

** Stock on track for biggest one-day pct drop since March 23, down for a second straight session

** Co plans sale of 50 mln new shares to key shareholder, raising HK$1.5 billion ($191.50 million) for development of magnetic latching business, to enhance R&D and manufacturing capabilities, and for overseas expansion

** The shares will be sold at HK$30 apiece, a 6.1% discount to Monday's close of HK$31.94

** Key shareholder will buy the new shares on completion of sale of the same amount of existing shares at the same price to third party investors

** YTD, stock up 77.7%, benchmark Hang Seng Index .HSI up 3%

($1 = 7.8328 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))