Core Viewpoint - The stock of Kintor Pharmaceutical (01888) opened nearly 7% lower, reflecting market reaction to Kintor Group's announcement of a share placement at a discount, which is expected to dilute existing shareholders' stakes [1] Group 1: Share Placement Details - Kintor Group plans to place up to 130 million shares of Kintor Pharmaceutical, representing 4.15% of its issued share capital [1] - The placement price is set at HKD 21 per share, which is an 8.7% discount compared to the closing price of HKD 23 on March 17 [1] - The estimated net proceeds from the placement are approximately HKD 2.72 billion, intended for general working capital [1] Group 2: Shareholding Changes - Following the completion of the placement, Kintor Group's shareholding in Kintor Pharmaceutical will decrease from 71.1% to 66.95% [1] - Kintor Group has committed not to sell any further shares for 90 days following the completion of the placement [1] Group 3: Market Impact - The stock price of Kintor Pharmaceutical fell by 6.96% to HKD 21.4, with a trading volume of HKD 2.784 billion at the time of reporting [1] - The company believes that the placement will enhance the liquidity of its shares in the market and broaden its shareholder base [1]