HK-listed Weimob falls to 5-week low on discounted placement

Weimob

26/07/2019 03:32

** Shares of Weimob Inc  2013.HK  fall as much as 12.1% to
HK$4.57, their lowest since June 17, after the cloud-based
commerce and marketing solutions service provider plans to sell
shares at a discount
    ** Stock tops most actively traded shares in early trade
    ** Co has agreed to sell 255 million new shares to three of
its major shareholders for HK$1.17 bln ($149.7 mln), raising
proceed to fund investment and acquisition, research and
development, and technology platform construction  urn:newsml:reuters.com:*:nFWN24R003
    ** Shanghai-based company, which got listed on Jan 15, has
agreed to sell the new shares at HK$4.60 apiece, or 11.54%
discount to last close
    ** Co says the major shareholders will buy the new shares on
completion of their sale of the same amount of existing shares
at the same price to third party investors
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  eases 0.1%
    ** The Hang Seng China enterprises index  .HSCE  slides
0.6%, and the benchmark index  .HSI  eases 0.5%
 ($1 = 7.8178 Hong Kong dollars)

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