YEAHKA Ltd (09923.HK) witnessed a steep decline of 7.21% in its stock price during the Tuesday morning trading session.
The plunge came after the company announced plans to place 19.2 million new shares at HK$10.10 per share. The share placement, likely aimed at raising capital, has seemingly dampened investor sentiment and contributed to the sell-off.
Share dilution resulting from the new issuance could be a primary factor weighing on YEAHKA's stock price. Investors may also be concerned about the company's capital allocation strategies and the potential impact on future earnings and valuation.
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