HK Stock Market Move | CHINAHEALTHWISE (00348) once surged by 218%, with a premium of about 16.7% and net proceeds from the share placement of approximately HKD 10.8 million.

CHINAHEALTHWISE (00348) surged by 218% to HKD 0.191 this morning. As of the time of writing, it has risen by 141.67%, trading at HKD 0.145, with a transaction volume of HKD 2.0383 million. In news, CHINAHEALTHWISE announced last night that on August 5, the company plans to issue approximately 154 million shares to Chen Lijin at a subscription price of HKD 0.07 per share, representing a premium of about 16.7% over the closing price of HKD 0.06 per share on that day. The net proceeds from the subscription will be approximately HKD 10.8 million, with about HKD 5.8 million allocated as general working capital for the Group, mainly to cover employee costs and legal and professional expenses; and approximately HKD 5 million used to repay the Groups existing debts, including borrowings from financial institutions.