HK Stock Market Move | NANSHAN AL INTL (02610) fell more than 5% and discounted 6.4% in a rights issue for existing shareholders before new ones. A net fundraising of 1.99 billion Hong Kong dollars.

NANSHAN AL INTL (02610) fell more than 5%, as of the time of writing, down 5.37% to 65.2 Hong Kong dollars, with a trading volume of 2.039 billion Hong Kong dollars. In terms of news, NANSHAN AL INTL announced a placement of 31 million shares in the old-before-new manner, representing approximately 5% of the enlarged share capital, with a price of 64.5 Hong Kong dollars per share, a discount of approximately 6.39% compared to the closing price of 68.9 Hong Kong dollars on January 21. Assuming full subscription, the expected total proceeds and net proceeds from the subscription are approximately 19.995 billion Hong Kong dollars and 19.868 billion Hong Kong dollars respectively, with approximately 90% of the net proceeds to be used for the group's potential electrolytic aluminum and related raw materials and ancillary business, and 10% for general operating funds.