PACIFIC LEGEND (08547) Plunges Over 15% on Proposed Share Placement at 4.07% Discount to Raise HK$11.4M
Stock News
Dec 11, 2025
PACIFIC LEGEND (08547) dropped more than 15%, hitting HK$0.104 per share with a turnover of HK$1.6391 million by press time.
The decline follows the company's announcement on December 10 of a proposed placement of up to 98.5279 million new shares, representing approximately 16.67% of the enlarged share capital. The placement price is set at HK$0.118 per share, reflecting a 4.07% discount to the closing price of HK$0.123 on December 10.
The gross proceeds from the placement are expected to be around HK$11.6 million, with net proceeds estimated at HK$11.4 million. The board intends to allocate the entire net proceeds for the group's working capital requirements.
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