HK Stock Market Move | HG SEMI (06908) fell by another 17%, planning to offer a 36% discount on "4 for 1" fundraising, raising a net of 89 million Hong Kong dollars.

HG SEMI (06908) fell by another 17%, with the stock dropping over 9% yesterday. As of the time of writing, it had fallen by 17.65% to 0.56 Hong Kong dollars, with a turnover of 5.639 million Hong Kong dollars. On the news front, HG SEMI recently announced that the board of directors recommended a rights issue at a subscription price of 0.48 Hong Kong dollars per share, based on a "4-for-1" basis, with a discount of about 36% compared to the closing price of 0.750 Hong Kong dollars per share on the last trading day on the Stock Exchange. The estimated net proceeds are expected to be around 89 million Hong Kong dollars, intended for strengthening the research and development capabilities of LED, mini LED, and related semiconductor products; as well as for general operating funds.