HAO TIAN INTL (01341) declined more than 10% for another session. As of press time, the stock was down 10.2% to HK$0.229, with trading volume reaching HK$169 million.

On the news front, HAO TIAN INTL recently announced that on September 17, the company entered into a subscription agreement with PCL. The company plans to subscribe for HK$400 million worth of subscription shares in PCL (equivalent to 850 PCL shares), which will be settled through the issuance of 1.6 billion consideration shares to PCL (or its nominee) under the company's general mandate. Each consideration share will be issued at a price of HK$0.25, representing approximately a 7.41% discount to the closing price of HK$0.270 per share on that day.

It is understood that PCL is an indirect non-wholly owned subsidiary of Wutong International.