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BUZZ-HK-listed Zhongyuan Bank jumps most on record on share sale at premium

reuters.com · 04/28/2022 22:58
BUZZ-HK-listed Zhongyuan Bank jumps most on record on share sale at premium

** Shares of corporate banking services provider Zhongyuan Bank Co Ltd ZNNGY jump as much as 43.3% to HK$1.19, heading for their biggest daily percentage gain since debut in July 2017

** Stock hits the highest since August 2020, on track for a third consecutive session of gain; sixth-biggest percentage gainer on the Hong Kong bourse

** Zhongyuan Bank plans to sell up to 3.15 bln new shares to no less than six independent investors, raising HK$5.67 bln ($722.53 mln) to replenish core tier 1 capital to ensure compliance with regulatory requirements nFWN2WQ2D8

** Says the new shares will be issued at HK$1.80 apiece. That compared to Thursday's closing price of HK$0.83 each

** The Hang Seng Composite Index tracking financials stocks .HSCIF slides 1% and the Hang Seng Finance Index .HSNF falls 1.1%

** The Hang Seng China Enterprises Index .HSCE and the benchmark Hang Seng Index .HSI both slip 0.7%


($1 = 7.8474 Hong Kong dollars)


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))