CHINA RES MIXC opened lower by 7.9% due to a 9.6% discount on the rights issue from its parent company

CHINA RES MIXC (01209.HK) was discounted nearly 10% in a placement by its parent company CHINA RES LAND (01109.HK). This morning (13th), CHINA RES MIXC opened down 7.85%, currently reported at HKD 42.5, with a pre-market transaction of 49.6876 million shares, involving HKD 2.072 billion.

CHINA RES LAND announced the placement of 49.5 million shares of CHINA RES MIXC, accounting for approximately 2.17% of the total issued shares, at a price of HKD 41.7 per share, representing a discount of about 9.58% compared to the previous day's closing price. The net proceeds are expected to be approximately HKD 2.061 billion, intended for the group's acquisition of reserve land, development costs, and general working capital.

CHINA RES LAND opened down 0.13%, reported at HKD 30.66, with a pre-market transaction of HKD 923,300