China's Yeahka drops most in 3 months on discounted share sale

Yeahka

07/01/2025 03:59

** Yeahka  9923.HK  slides 10.5% to HK$9.94; set for biggest
one-day pct drop since Oct. 8, 2024
    ** Stock set for fifth straight session of fall; top pct
loser on Hang Seng Composite Index  .HSCI , which is down 1.8%
    ** Chinese payments and tech-enabled business services group
to sell 19.15 mln new shares to controlling shareholder, raising
HK$193.4 mln (~$25 mln) for overseas expansion and investment in
R&D
    ** Issue price of HK$10.10 represents 9% discount to
Monday's close of HK$11.10
    ** Co says controlling shareholder will buy new shares after
same number of existing shares sold to third party investors at
same price

($1 = HK$7.7735)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))