Shougang sold 800 million shares, or 13.2% of its existing issued share capital, at HK$2.26 per share. The price was fixed at the top of an indicative range starting from HK$2.14, and represents a discount of 8.1% to the HK$2.46 closing price at yesterdayÆs morning session. The shares were suspended in the afternoon to carry out the placement, but were set to resume trading today.
The share price rallied 6.5% in the morning before the deal, however, and based on the previous dayÆs...
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