Changes in Hong Kong stocks | Everest Gold (01815) falls more than 8% and plans to allocate more than 400 million dollars to expand the gold bar business, and China Baiyin is no longer the controlling shareholder

The Zhitong Finance App learned that Everest Gold (01815) fell by more than 8%. As of press release, it decreased by 7.63% to HK$1.635, with a turnover of HK$11.357,800.

According to the news, Everest Gold recently announced that it plans to place 277 million shares, with a net raise of about HK$443 million. The company plans to use about 90% of the working capital for the gold bar business and about 10% for the group's general working capital. It is worth noting that China Baiyin (00815)'s shareholding ratio in the company will be diluted from about 35.37% to about 29.57%. It will no longer be the company's controlling shareholder, but it will still be the single largest shareholder; its non-competitive commitments regarding the company's listing will end in accordance with its terms.