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YOFC (06869.HK) Ticks Up 5% after Low Opening; Shr Placement at ~15% Discount to Raise $2.23B Net
Recommend 4 Positive 11 Negative 6 |
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YOFC (06869.HK) opened down 3.64% today (10th), before snapping the downswing in early trade. It last ticked up 5.22% to $39.9, on volume of 36.57 million shares and turnover of $1.375 billion. YOFC announced this morning before the bell that it plans to place 70 million new H-shares (around 8.46% of the enlarged issued share capital) under general mandate. The placement price per share is HKD32.26, a discount of around 14.93% to yesterday's (9th) closing price. The company expects to raise net proceeds of around HKD2.2295 billion from the placement, with about 80% for overseas business development and about 20% for general working capital. AAStocks Financial News |
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