** Shares of Chinese software service provider Vobile Group 3738.HK drop 19.9% to HK$3.34, on course for their biggest one-day decline since April 7
** Stock hit the lowest since May 16; top loser on the Hong Kong bourse
** Vobile plans to sell 138 million new shares to third-party investors in share placement, raising HK$522 mln ($66.60 mln) for developing artificial intelligence generated content related business, to repay borrowings, and for working capital
** The new shares will be issued at HK$3.78 apiece, a 9.4% discount to Monday's close of HK$4.17 each
** Hang Seng Tech Index .HSTECH slips 0.2% while Hang Seng Index .HSI gains 0.2%
** YTD, stock down 9.4%
($1 = 7.8379 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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