HK-listed CaoCao falls most in 6 weeks on discounted share sale
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Shares of CaoCao Inc fell 5.8% to HK$33.6, marking the largest decline in six weeks. The stock has dropped for three consecutive sessions, reaching its lowest point since January 22. The company plans to sell 12 million new shares at HK$32.46 each, an 8.97% discount to the previous close, raising HK$389.5 million for its robotaxi business and working capital. Year-to-date, the stock is up 12.8%, while the Hang Seng TECH Index has risen 6.1%.
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