Electric-scooter maker Yadea hits record high on share sale, expansion plan

Yadea group

08/01/2021 03:21

** Shares of Yadea Group Holdings Ltd  1585.HK , which makes
electric scooters and bicycles, surge as much as 11.8% to HK$19,
their all-time high since listing in May 2016
    ** Stock last up 10.8%, on course for the best session since
Sept. 16; among the top 30 biggest percentage gainers on the
Hong Kong exchange 
    ** Jiangsu-based co says major shareholder Fang Yuan
Investment agreed to sell 100 mln shares, or 3.34% stake, to
third party investors for HK$1.45 bln ($187.02 mln)  urn:newsml:reuters.com:*:nFWN2JI0W1
    ** Yadea said on Wednesday it launched flagship stores in
Switzerland and several Latin American countries in its push for
global expansion  urn:newsml:reuters.com:*:nFWN2JH0EJ
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 1.4%
    ** The Hang Seng China enterprises index  .HSCE  rises 1.5%,
and the benchmark index  .HSI  gains 1%
    
($1=7.7533 Hong Kong dollars)

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