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TIME INTERCON Slumps 8% on 13.6% Discounted Placement Raising HKD2.89B Net Proceeds
TIME INTERCON (01729.HK) opened 3.21% lower today, hitting an intraday low of HKD21.8. It last reported at HKD22.26, down 8.4%, with turnover of 1.789 million shares, involving HKD...
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TIME INTERCON Slumps 8% on 13.6% Discounted Placement Raising HKD2.89B Net Proceeds
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TIME INTERCON (01729.HK)  +1.380 (+7.443%)    Short selling $6.66M; Ratio 2.144%   opened 3.21% lower today, hitting an intraday low of HKD21.8. It last reported at HKD22.26, down 8.4%, with turnover of 1.789 million shares, involving HKD40.1329 million.

TIME INTERCON announced the placing of 138 million new shares, representing approximately 6.19% of the enlarged share capital, at a price of HKD21 per share, reflecting a discount of about 13.58% to the closing price of HKD24.3 on the previous trading day (11th).

The placing is expected to raise net proceeds of approximately HKD2.885 billion. About 50% will be used to develop global operations and expand overseas business; 20% to strengthen the balance sheet and repay bank loans; 20% for strategic investments and acquisitions; and 10% for working capital and general corporate purposes.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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