China's MOG jumps after co says chairman released on bail

MOG Digitech Holdings

16/10/2023 03:58

** Shares of Chinese financial technology group MOG Digitech
Holdings Ltd  1942.HK  jump as much as 20.7% to HK$7.24, highest
since Oct 11
    ** Stock to mark biggest one-day pct rise since Sept 29, if
gains hold; biggest pct gainer in the Hang Seng Composite Index
 .HSCI  
    ** Guangdong-based co says Chairman Deng Zhihua was released
on bail on Oct 12 without any charge laid against him after he
was arrested by the Independent Commission Against Corruption
for investigation on the same day
    ** Deng has resumed his work in co's headquarter in Jiangxi
in the mainland and the incident will not have any material
adverse effect on co's business operation and financial position
- co
    ** Co also agreed to buy software application firm Hope
Talent for HK$116.9 mln ($14.95 mln) as it broadens its scope of
investment 
    ** The Hang Seng Tech Index  .HSTECH  falls 1.1%, the Hang
Seng Composite Index slips 0.4% and the Hang Seng Index  .HSI 
eases 0.3%
    ** Stock down 29.1% YTD

($1 = 7.8205 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))