HK-listed Sisram Medical falls most in over 5 weeks on discounted share sale

Reuters2021-07-20

** Shares of medical aesthetic treatment systems provider Sisram Medical Ltd fall 10.6% to HK$26.55, on course for the worst day since June 11

** Stock hit the lowest since July 14; the fourth biggest decliner on the Hong Kong bourse

** Sisram has agreed to sell 24 mln new shares, or 5.15% of the enlarged share capital, to third party investors raising HK$621.6 mln ($80 mln) for business development and expansion of sales channels

** The subsidiary of Shanghai Fosun Pharmaceutical (Group) Co Ltd says the shares will be offered at HK$25.90 apiece, or a 12.79% discount to Monday's close of HK$29.70 each

** Hong Kong shares of Shanghai Fosun rise 3.9% to an all-time high at HK$69.45, while the Shanghai shares rise 2.3%

** The Hong Kong Hang Seng Commerce & Industry Index climbs 0.2%, and the healthcare index gains 0.6%

** The Hang Seng China Enterprises Index edges up 0.01%, and the benchmark index gains 0.1%

** As of last close, Sisram stock had soared 797.3% this year

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