Sept. 27 (Bloomberg) -- Beijing Enterprises Water Group Ltd., a developer of water-treatment systems, rose the most in two weeks after agreeing to raise HK$1.18 billion ($152 million) by selling shares to Mount Reskit Investments Ltd.
The stock jumped as much as 7.4 percent in Hong Kong trading and closed at HK$3.27, the biggest increase since Sept. 13.
The company will issue 400 million new shares at HK$2.95 apiece to the unit of Malaysian sovereign wealth fund Khazanah Nasional Bhd for working capital, Beijing Enterprises said in a filing to the Hong Kong stock exchange yesterday.
The sale will represent about 4.95 percent of the company’s issued share capital after its completion, making the subscriber the third-biggest shareholder, according to the statement. The largest shareholder is Beijing Enterprises Environmental Construction Ltd.; the second is Tenson Investment Ltd.
--Feifei Shen. Editors: Randall Hackley, Iain Wilson