The company sold 450 million new shares at HK$2.80 per share, equivalent to approximately a 10.54% discount to the closing price of HK$3.13 per share on July 31, and approximately an 18.41% discount to the average closing price of about HK$3.43 per share for the last five trading days.
ôPeople knew the trade was coming, because they knew HKC had to sell shares, but they just didnÆt know when,ö says a person close to the deal.
The reason investors knew the top-up placement was coming was earlier this month, on July...
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