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BUZZ-Shanghai Pharma's HK shares set for worst day in 10 months on discounted share sale

05/11/2021 23:43
BUZZ-Shanghai Pharma's HK shares set for worst day in 10 months on discounted share sale

** Hong Kong-listed shares of Shanghai Pharmaceuticals Holding Co Ltd 2607.HK fall as much as 7.4% to HK$16.40, their lowest since April 19

** Stock on course for the worst session since July 16, 2020

** Co's Shanghai-listed shares fall 6.9%

** Dual-listed Shanghai Pharmaceuticals 601607.SS plans sale of 14.4 bln yuan ($2.24 bln) A-shares to Shanghai Tandong Enterprise Consulting Services Co and Yunnan Baiyao Group Co 000538.SZ, raising proceeds to repay debt and for working capital nP8N2MT01I

** Co plans sale of an aggregate 852.6 mln A shares at 16.87 yuan apiece, versus Tuesday's close of 21.74 yuan each

** The Hong Kong Hang Seng Commerce & Industry Index .HSNC rises 1.3%

** The Hang Seng China enterprises index .HSCE climbs 0.7%, and the benchmark index .HSI edges up 0.1%

** As of last close, the Hong Kong-listed stock up 29.7% this year

($1 = 6.4361 Chinese yuan)


(Reuters Messaging: [email protected])