** Shares of Alphamab Oncology 9966.HK drop 11.8% to HK$8.07, their biggest intraday pct decline since May 12
** Stock hits the lowest since May 21, and on course to snap three straight sessions of gains, if current trend holds
** Alphamab Oncology says controlling shareholder plans to sell 14.6 mln existing shares at HK$8.05 each in share placement, reducing its stake to 31% from 32.5%
** Co says the controlling shareholder will use the proceeds to repay existing personal liabilities and debts, and the placement is not expected to have any impact on its business or operations
** The Hang Seng Biotech Index .HSHKBIO gains 1.3% and the Hang Seng Index .HSI climbs 1.2%
** Alphamab stock up 133.7%, YTD
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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