HK Stock Market Move | Tianrun Cement Co., Ltd. of China (stock code: 01252) is now down more than 10%. Deloitte has resigned as the company's auditor, and the company has completed a rights issue to raise funds to pay off debts.

China Tianrui Cement (01252) is currently down more than 10%, with a drop of 10.53% at the time of writing, trading at HK$0.255, with a turnover of HK$67.869 million. On the news front, CHINA TIANRUI announced that Deloitte Touche Tohmatsu (Deloitte) has resigned as the company's auditor, effective from December 24. In addition, the company disclosed that it will issue up to 145 million shares in a rights issue, with new shares accounting for 4.7% of the enlarged share capital; the issue price is HK$0.33, raising a net amount of HK$47 million, with 89.79% to be used for debt repayment and the remaining for general working capital.