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Lopal Tech Raises Nearly HK$194 Million from Share Placement; Shares Slide 3%

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Jiangsu Lopal Tech. Group (SHA:603906, HKG:2465) raised net proceeds of HK$193.7 million from the placing of 15 million shares, according to a Monday Hong Kong bourse filing.

Shares of the automotive specialty chemicals seller were down nearly 3% in Tuesday afternoon trading.

The shares, representing around 1.9% of its enlarged issued share capital, were placed to at least six investors at HK$13.09 apiece.

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