HK Stock Market Move | Jiangsu Lopal Tech. Group (02465) fell more than 8% again. It recently announced plans to raise approximately HK$194 million through a discounted rights issue.
Long Pan Technology (02465) further dropped by more than 8%, as of press time, it fell by 8.14% to HK$12.53, with a turnover of HK$139 million.
Jiangsu Lopal Tech. Group (02465) fell by over 8%, dropping by 8.14% to HK$12.53 as of the time of writing, with a trading volume of HK$139 million.
On the news front, Jiangsu Lopal Tech. Group announced yesterday that on June 16th, the company entered into a placing agreement with joint placing agents to issue up to a total of 15 million shares at a price of HK$13.09 per share. This represents a discount of about 8.91% to the closing price of HK$14.37 per H share on that day. Assuming all placing shares are fully subscribed, it is expected to raise a net amount of about HK$194 million, with approximately 58.69% to be used as general working capital for the Jintan project, and about 41.31% to partially repay the outstanding loan of RMB 130 million from China Minsheng Banking Corp.,Ltd. Nanjing Branch due on August 27, 2026. The remaining outstanding loan is expected to be repaid with the group's existing funds.
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