BUZZ-HK-listed ImmuneOnco Biopharma slumps on discounted share sale

Reuters11-21

** Shares of ImmuneOnco Biopharmaceuticals Shanghai Inc 1541.HK slump 11.2% to HK$7.48, on course for the biggest one-day pct decline since Oct. 14

** Stock on track to snap two consecutive sessions of gain

** The Chinese biotechnology group plans sale of 33.15 mln new shares, representing 8.14% of the enlarged share capital, to third party investors, raising HK$233.71 mln ($30.03 mln) to fund clinical studies for treatment of solid tumors in China

** The new shares will be issued at HK$7.05 apiece, or 16.27% discount to Wednesday's close of HK$8.42

** Hang Seng Commerce & Industry Index .HSNC slips 0.1%, while healthcare index .HSCIH and Hang Seng Index .HSI each eases 0.3%

** Stock down 73.9% YTD

($1 = 7.7826 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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