Hong Kong restaurant chain Minshang slumps on share sale

Minshang Creative Technology Holdings

07/11/2018 06:38

** Shares of Minshang Creative Technology Holdings Ltd
 1632.HK  fall as much as 11.1 pct to HK$1.60, set for its worst
day since Sept. 20, after the restaurant chain operator says it
will sell shares at a discount
    ** The Hong Kong-based investment firm says to sell 56.61
mln new shares to third party investors at HK$1.1 apiece,
representing 38.9 pct discount to the previous close
 urn:newsml:reuters.com:*:nFWN1XH0LW
    ** Capital raised will be used to fund purchase and future
development of a technology and e-commerce firm in China
    ** As of the last close, the stock has fallen 12.2 pct so
far this year
    ** Minshang has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 79.3 percentage points in the
past month

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)