HK-listed game developer XD falls on discounted share sale

XD

24/06/2020 03:13

** Shares of XD Inc  2400.HK  fall as much as 9.8% to
HK$29.75, lowest since June 17, after mobile and web games
developer plans sale of HK$780 mln ($100.6 mln) shares at
discount 
    ** Stock fifth most actively traded in early session, and
heads for biggest intraday pct decline since listing in Dec.
2019
    ** Shanghai-based firm plans to issue 26.09 mln new shares,
or 5.75% of enlarged share capital, at HK$29.9 each to major
shareholder Aiks Danger Inc, raising proceed for developing game
community and to enrich content  urn:newsml:reuters.com:*:nFWN2E00UB
    ** Issue price represents 9.39% discount to closing price of
HK$33 each on Tuesday, and Aiks will buy new shares on
completion of sale of same amount of existing shares at same
price to third party investors
    ** As of last close, stock had soared 94.1% this year
    ** Hang Seng China enterprises index  .HSCE  climbs 0.2%,
and benchmark index  .HSI  gains 0.1%
($1 = 7.7501 Hong Kong dollars)

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