text: Hwa Kay plunges on rights issue , earnings . HONG KONG 1996-08-28 Shares of Hwa Kay Thai Holdings Ltd plunged to an all-time low after the company announced a rights issue plan and also reported a sharp fall in earnings , brokers said . The stock fell HK$ 0.23 , or 30.26 percent , to an all-time low of HK$ 0.53 . " Investors unloaded their shares due to the poor earnings outlook following a sharp profit decline . The rights issue also prompted dilution fears , " said a dealing director at a local brokerage .