BUZZ-China's Yeahka drops most in 3 months on discounted share sale

Reuters01-07

** Yeahka 9923.HK slides 10.5% to HK$9.94; set for biggest one-day pct drop since Oct. 8, 2024

** Stock set for fifth straight session of fall; top pct loser on Hang Seng Composite Index .HSCI, which is down 1.8%

** Chinese payments and tech-enabled business services group to sell 19.15 mln new shares to controlling shareholder, raising HK$193.4 mln (~$25 mln) for overseas expansion and investment in R&D

** Issue price of HK$10.10 represents 9% discount to Monday's close of HK$11.10

** Co says controlling shareholder will buy new shares after same number of existing shares sold to third party investors at same price

($1 = HK$7.7735)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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