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FINWIRES

Da Yu Financial Unit to Underwrite Rights Offering

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Da Yu Financial (HKG:1073) said its wholly-owned subsidiary Morton Securities agreed to underwrite a rights offering alongside Get Nice Securities, according to a Thursday filing with the Hong Kong bourse.

The financial services firm's shares gained 15%.

The brokerage will underwrite up to 59.5 million shares of APAC Resources' (HKG:1104) broader rights offering of 353.9 million shares priced at HK$1.45 each.

The group expects to earn a commission of HK$2.2 million from the underwriting agreement.

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