HK Stock Market Move | Hao Tian International Construction (01341) fell more than 9% in the afternoon, the company slightly priced its rights issue at a net raise of HK$28.7 million.

Hao Tian International Construction (01341) fell more than 9% in the afternoon, falling 6.84% at the time of publication, to 0.109 Hong Kong dollars, with a turnover of 86,313.2 million Hong Kong dollars. On the news front, HAO TIAN INTL announced the placement of 249 million new shares, equivalent to a 2.25% increase in enlarged share capital; the placement price is 0.118 Hong Kong dollars, a slight premium of 0.85% over the previous trading day's closing price. The net amount raised from the placement is 28.7 million Hong Kong dollars, intended for the expansion of licensed financial services financing and margin trading business. It is worth noting that the company recently released its interim results for the period ending June, with revenues of 41 million Hong Kong dollars, a decrease of 52.33% year-on-year; the company's attributable loss was 36 million Hong Kong dollars, a decrease of 49.3% year-on-year. The decrease in revenue is mainly due to the improved overall liquidity of clients in the current stock market environment, leading to a decrease in demand for margin financing services.