MIDEA GROUP Slips ~2% as CLSA Says Proper Financing Needed Despite Ample Cash
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MIDEA GROUPshares fell by approximately 2% after CLSA reported that despite the company having ample cash reserves of RMB94 billion, it needs proper financing due to operational complexities in deploying overseas capital. The company recently surprised the market with the issuance of HKD17.2 billion in convertible bonds. MIDEA's stock opened lower and reached an intraday low of HKD83.65, closing at HKD86.1 with significant trading volume.
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