CMGE (00302.HK) Completes Shr Placement to Yat Hong Chu; Shr Price Once Surges 12%

　　CMGE (00302.HK) +0.050 (+5.556%) Short selling $6.74M; Ratio 14.778% has completed a share placement to Farrich Investments, a company ultimately wholly owned by Yat Hong Chu. The stock opened 10% higher today (23 July) and once soared 12.2% to as high as $1.01 in the early session. It closed at $0.95 for the half-day, hiking 5.56%, with 47.208 million shares traded, involving a capital of $45.6218 million.

　　CMGE disclosed in May that it would issue 100 million new shares, equivalent to 3.51% of its enlarged share capital to Farrich Investments at a price of $1.68 per share. The net proceeds were about $167 million, which the company intended to use to further enhance its IP game publishing and development business.

　　Chu's shareholding in CMGE has increased from 6.4% to 9.68%.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-23 12:25.)

　　AAStocks Financial News