GCL-Poly Falls After Announcing $452 Million Rights Offering

  • Stock falls most in 3 months as shares offered at discount
  • Funds used to cut debt may dilute earnings per share

GCL-Poly Energy Holdings Ltd., the world’s biggest maker of polysilicon and solar wafers, declined the most in more than three months in Hong Kong trading after it announced a plan to raise as much as HK$3.5 billion ($452 million) to reduce debt.

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