HK Stock Market Move | WAI HUNG GROUP (03321) resumed trading and saw a surge of 200%. The company clarified that the placement price was HK$0.0204 per share.

WAI HUNG GROUP (03321) was briefly suspended this morning, then resumed trading in the afternoon and surged over 200%. As of the time of writing, it has risen by 136% to 0.059 Hong Kong dollars, with a trading volume of 492,600 Hong Kong dollars. On the news front, WAI HUNG GROUP issued a clarification announcement at noon stating that the subscription price should be 0.0204 Hong Kong dollars per share, which was agreed upon through fair negotiations between the company and the subscription agent, taking into account the market price of the shares at the time on the Stock Exchange of Hong Kong. The subscription price represents a discount of 18.4% compared to the closing market price of 0.025 Hong Kong dollars per share on the date of the subscription agreement on the Stock Exchange of Hong Kong. The total amount raised will be approximately 2.06 million Hong Kong dollars, with a net amount of around 2.03 million Hong Kong dollars, to be used for the group's general operating funds.