HK Stock Market Move | DALIPAL HLDG(01921) fell more than 15% again, announced a 12% discount rights issue before the announcement of the old and new policies, with a net raise of about HK$385 million.

DALIPAL HLDG (01921) fell by more than 15%, with its stock price dropping by 25% in two days. As of the time of writing, it has fallen by 15.66%, closing at 4.47 Hong Kong dollars, with a trading volume of 37.2719 million Hong Kong dollars. On the news front, DALIPAL HLDG recently announced a private placement of up to 74.25 million shares, representing approximately 4.7% of the enlarged share capital, at a price of 5.28 Hong Kong dollars per share. This is a discount of about 12% compared to the closing price of 6 Hong Kong dollars on April 27. Upon completion of the private placement, the company is expected to raise approximately 392 million Hong Kong dollars, with a net amount of approximately 385.2 million Hong Kong dollars. The company plans to use the net proceeds for general working capital and corporate purposes.