HK Stock Market Move | KINGKEY FIN INT (01468) falls over 6% in the afternoon, with the company issuing 544 million shares to raise approximately 413 million Hong Kong dollars.

KINGKEY FIN INT (01468) fell more than 6% in the afternoon, with a drop of 6.58% as of the time of writing, at HK$0.71, with a transaction value of HK$108 million. On the news front, KINGKEY FIN INT announced that the rights issue received a subscription rate of 99.1%, with the company issuing 544 million shares in the rights issue, raising a net amount of approximately HK$413 million. It is reported that KINGKEY FIN INT announced in mid-October last year that it proposed a 2-for-1 rights issue of up to approximately 596 million shares, with a subscription price of HK$0.91 per rights share, to raise a total amount of approximately HK$540 million. Subsequently, the company decided to revise the subscription price from HK$0.91 per rights share to HK$0.76 per rights share.