China's Giant Biogene drops most in 8 months on discounted share sale

** Shares of Giant Biogene Holding Co Ltd 22367, a Chinese beauty and health products maker, drop 6.3% to HK$49.60, their biggest intraday pct drop since Sept 21, 2023

** Stock hits the lowest since May 6 and on track for the second session of losses

** Co plans sales of 33.22 mln new shares to Juzi Holding, raising HK$1.64 bln ($210.2 mln) to fund brand promotion, marketing, R&D investment and for replenishment of liquidity

** Juzi will buy the new shares on completion of sales of the same amount of existing shares at the same price to third-party investors at HK$49.40 per share, respresenting a 6.7% discount to Thursday's close of HK$52.95 each

** Hang Seng Commerce & Industry Index (.HSNC) climbs 0.7%and Hang Seng Index HSI adds 0.1%

** Stock up 41.5% YTD

($1 = 7.8005 Hong Kong dollars)