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2002-6-12 11:13:00 a.m. HKT, XFNA
STOCK ALERT - Quam sharply lower on rights issue plans
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HONG KONG (AFX-ASIA) - Quam Ltd was down 0.011 hkd or 36.667 pct at 0.019
on 26.486 mln shares after the company announced plans to issue rights
shares, dealers said.
They said investors may be opting to offload the stock amid concerns the
rights shares may dilute earnings per share.
The company said it will issue around 1.934 bln rights shares at 0.015
hkd per share on the basis of three for every five ordinary shares held.
Quam will use the estimated net proceeds of 28 mln hkd for general
working capital and for business expansion, it said in a statement.
wj/jv
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