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What happened to this Hong Kong stock that resumed trading and soared over 200%?
On the afternoon of September 17th, Hong Kong stock Wai Hung Group Holdings resumed trading, with the stock price rising more than 204% at one point, and closing with a 104% increase. Before today's market opening, Wai Hung Group Holdings had temporarily suspended trading and announced that it would issue an announcement regarding insider information. Subsequently, the company issued a clarification announcement to clarify the allocation matters stated in the company's previous announcement on the previous trading day.
Wai Hung Group (03321): The issue price should be HK$0.0204 per share and will resume trading in the afternoon of September 17th.
wai hung group (03321) announced that the subscription price should be 0.0204 Hong Kong dollars per share, which has been approved by the public...
wai hung group (03321.HK) issued a clarification announcement and will resume trading in the afternoon of September 17.
On September 17th, wai hung group announced that, according to the general authorization, the company clarifies that the issue price for the new shares should be HK$0.0204 per share, which was determined after fair consultation with the issuing agents, taking into account the market price of the shares at the time on the Hong Kong Stock Exchange. The issuing price represents a discount of 18.4% to the closing price of HK$0.025 per share on the Hong Kong Stock Exchange on the date of the subscription agreement, and a discount of approximately 19.0% to the average closing price of HK$0.0252 per share on the Hong Kong Stock Exchange for the last five consecutive trading days prior to the date of the subscription agreement.
Express News | Great Hong Group: Clarify the discount of 18.4% on the issue price and resume trading.
Wai Hung Group Clarifies Share Pricing, Resumes Trading
Wei Hong Group (03321.HK) clarifies that the subscription price is HKD 0.0204 per share and trading will resume this afternoon.
Wai Hung Group Holdings (03321.HK) issued a clarification announcement stating that the subscription price should be HKD 0.0204 per share, approximately 18.4% discount from the closing price yesterday. The proceeds amounted to HKD 2.06 million and will be used as general working capital for the group. The company has applied to resume the trading of shares from 1:00 pm today.
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