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2021-07-20

HK's Tongda drops most in over 20 years on discounted share sale

** Shares of electrical appliance components maker Tongda Group Holdings Ltd drop 37.4% to HK$0.285,

HK's Tongda drops most in over 20 years on discounted share sale

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the biggest percentage decliner on the Hong Kong bourse</p>\n<p>** Co plans to issue 3.24 bln rights shares to existing shareholders in the proportion of <a href=\"https://laohu8.com/S/AONE.U\">one</a> rights share for every two existing shares held, raising HK$752 mln ($96.77 mln) for purchase of machinery, increase production capacity and to repay bank borrowings ()</p>\n<p>** Says the rights shares will be issued at HK$0.232 apiece, or 49.01% discount to the previous close of HK$0.455 each</p>\n<p>** The Hong Kong Hang Seng Commerce &amp; Industry Index eases 0.4%, and the composite industry index tracking industrials falls 1.1%</p>\n<p>** The Hang Seng China Enterprises Index drops 0.6%, and the benchmark index slips 0.4%</p>\n<p>** As of last close, stock down 20.2% this year</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00698":"通达集团"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152663298","content_text":"** Shares of electrical appliance components maker Tongda Group Holdings Ltd drop 37.4% to HK$0.285, on course for their worst day since listing in December 2000\n** Stock drops to lowest since September 2012; 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HK's Tongda drops most in over 20 years on discounted share sale

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