HK-listed video game group Feiyu hits over 3-1/2 year high on share sale plans

Reuters2021-04-26

** Shares of China's video game developer and distributor Feiyu Technology International Co Ltd jump as much as 118.8% to HK$1.40, their highest since September 2017, set for fourth straight session of gains

** Stock last up 57.8%, on track for its best day since Feb. 8; is the biggest percentage gainer on the Hong Kong bourse

** Fujian-based company plans to issue 171.88 mln new shares, or 10% of the enlarged share capital, to a third party THL H Ltd for HK$119.3 mln ($15.4 mln), raising capital for product development, for publishing and marketing

** The new shares will be issued at HK$0.6941 apiece, or a 8.45% premium over Friday's close of HK$0.64

** The Hong Kong Hang Seng sub-index tracking information technology firms rises 1.6%, and the Hang Seng Tech Index climbs 1.3%

** Both the Hang Seng China enterprises index and the benchmark index gain 0.2%

** As of the previous close, the stock had soared 255.6% this year

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