Film company bid to raise cash creates selling wave

Shares of National Arts Holdings, a film producer and distributor, plunged 30.2 per cent at one stage yesterday on news it would price a rights issue at 10 HK cents per share - a discount of 81 per cent to Thursday's close.

Its investors include chairman and controlling shareholder Checkley Sin Kwok-lam, a former managing director of Wing Hang Credit.

via Business feed http://www.scmp.com/business/companies/article/1065385/film-company-bid-raise-cash-creates-selling-wave