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Shanghai Pharma's HK shares set for worst day in 10 months on discounted share sale

Reuters2021-05-12

** Hong Kong-listed shares of Shanghai Pharmaceuticals Holding Co Ltd fall as much as 7.4% to HK$16.40, their lowest since April 19

** Stock on course for the worst session since July 16, 2020

** Co's Shanghai-listed shares fall 6.9%

** Dual-listed Shanghai Pharmaceuticals plans sale of 14.4 bln yuan ($2.24 bln) A-shares to Shanghai Tandong Enterprise Consulting Services Co and Yunnan Baiyao Group Co

, raising proceeds to repay debt and for working capital

** Co plans sale of an aggregate 852.6 mln A shares at 16.87 yuan apiece, versus Tuesday's close of 21.74 yuan each

** The Hong Kong Hang Seng Commerce & Industry Index rises 1.3%

** The Hang Seng China enterprises index climbs 0.7%, and the benchmark index edges up 0.1%

** As of last close, the Hong Kong-listed stock up 29.7% this year

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Comment10

  • ACCY
    ·2021-05-12
    Still a good time to buy Shanghai Pharmaceuticals?
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    • KLS
      Buy n like
      2021-05-12
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  • Jojofi
    ·2021-05-12
    Sell in May...
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    • ACCY
      Now?
      2021-05-12
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  • JuniorCool
    ·2021-05-12
    Like share comment 
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    • JuniorCool
      OKie done
      2021-05-15
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    • FlyHighFly
      Ok. Reply please
      2021-05-12
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  • Jj09
    ·2021-05-12
    Weird 
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  • Veldora
    ·2021-05-12
    [NosePick] 
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  • bananafruit
    ·2021-05-12
    Good
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  • Jimmyboy
    ·2021-05-12
    Good information. Pls like and share.
    Reply
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  • DKHT20042021
    ·2021-05-12
    Strange 
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  • Meis_Signia
    ·2021-05-12
    Wow not a good day for investors
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  • ragdoll99
    ·2021-05-12
    Nice
    Reply
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