HK Stock Market Move | JNBY (03306) fell more than 6%, plans to issue approximately 9% of shares at a discount, with a net proceeds of approximately HK$270 million.

JNBY (03306) fell more than 6%, closing at a 6.69% drop to 19.26 Hong Kong dollars, with a trading volume of 94.915 million Hong Kong dollars. On the news front, JNBY announced a placement of 14.535 million shares at a price of HK$18.78 per share. The number of placement shares is equivalent to approximately 2.73% of the total number of issued shares after the completion of the placement. The placement price represents a discount of about 9.01% to the closing price on January 22. The total expected proceeds from the placement are approximately HK$273 million, with net proceeds expected to be around HK$270 million. The net proceeds will be used to strengthen brand development; research and development investments to enhance overall market competitiveness; and for general and corporate purposes.