Far East Horizon Shares Fall Over 5%, Hit 52-Week Low

Far East Horizon (3360.HK) fell 5.22% during regular trading to HK$5.120, dipping to an intraday low of HK$5.080, marking a new 52-week low. Volume reached approximately 3.33 million shares.

The decline follows the company's recent update to its USD4 billion medium-term notes and perpetual securities issuance program, with UBS AG appointed as arranger. The program is expected to become effective around June 22. Company officials stated proceeds would be used for working capital and general corporate purposes, noting they currently have no intention to fully draw down the facility, with future issuances contingent on market conditions.