Galaxy Payroll slides premarket after $200 million filing
Galaxy Payroll Group shares fell 20% to $1.03 in premarket trading Friday after the SEC declared its $200 million shelf registration effective. The company, with a market cap of about $7.7 million, said it has no immediate plans to raise equity. Six-month revenue rose 2% to HK$14 million, and net loss narrowed to HK$1.1 million.