China Fishery, Pacific Andes dive on proposed rights issue
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Singapore
INVESTORS dumped stocks of China Fishery Group and its largest shareholder Pacific Andes Resources Development on Wednesday following the former's proposal to undertake a rights issue of up to 1.71 billion new shares at an issue price of 17.3 Singapore cents apiece.
This came just after Pacific Andes, which owns a deemed 70.5 per cent stake in China Fishery, also undertook a rights issue recently at a huge discount to its share price.
