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HUA YIN INTL H (00989.HK) Once Skyrockets 1.2x After Trade Resumption; Places Shrs at 19% Premium to Offset Loan
HUA YIN INTL H (00989.HK) once surged 1.19x to as high as $0.092 after resumption of trading in the afternoon. It trades at $0.084, rocketing 100%, with 8.27 million shares traded ...
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HUA YIN INTL H (00989.HK) Once Skyrockets 1.2x After Trade Resumption; Places Shrs at 19% Premium to Offset Loan
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HUA YIN INTL H (00989.HK)  -0.004 (-7.273%)   once surged 1.19x to as high as $0.092 after resumption of trading in the afternoon. It trades at $0.084, rocketing 100%, with 8.27 million shares traded involving $650,900 in proceeds.

HUA YIN issued 5.06 billion capitalisation shares to Ground Investment Holding, representing about 41.26% of the enlarged share capital, at a price of $0.05 per share, representing a premium of around 19.05% over the pre-suspension closing price of $0.042 per share, for a total consideration of $253 million.

The aggregate capitalisation price of all capitalisation shares shall be satisfied by capitalising, and setting off against, the loan in full on a dollar-for-dollar basis. Currently, Jilin Rongyu, an indirect wholly-owned subsidiary of HUA YIN, owes a loan of about RMB230 million (approx. $253 million) to Ground Investment Holding.

Ground Investment Holding is owned as to 75% by the father of and as to 25% by the mother of Cui Xintong, the executive director and the chairperson of the board of HUA YIN.

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