HK Stock Market Move | CN ANCHU ENERGY (02399) soars more than 30%, plans to raise 297 million Hong Kong dollars in net proceeds with a 150% premium on share issuance.

CN ANCHU ENERGY (02399) soared by more than 30%, reaching 0.26 Hong Kong dollars at the time of writing, with a trading volume of 1.7199 million Hong Kong dollars. On the news front, CN ANCHU ENERGY announced that they will issue a total of 59.574 million shares to two independent third parties, equivalent to 1.96% of the enlarged share capital. The price per share is 0.5 Hong Kong dollars, representing a 150% premium over the closing price on the previous trading day (23rd). The total fundraising amount is 29.8 million Hong Kong dollars, with a net amount of 29.7 million Hong Kong dollars intended for general operating funds.