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Hot stock: Sino Grandness slips nearly 19%

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Mr Huang Yupeng is the chairman and chief executive of China-based canned food company Sino Grandness Food Industry.

THE share price of main board-listed Sino Grandness has plunged by almost 19 per cent in early morning trade on Wednesday, after the Chinese food manufacturer revised down its terms of rights issue.

As at 10.11am on Dec 14, the counter had fallen by 5.5 Singapore cents, or 18.64 per cent, to 24 Singapore cents.

On Tuesday night, it announced that it has revised its rights issue basis to five rights shares for every 11 held. The maximum number of shares that can be issued is now 332.3 million.

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