** Shares of Impro Precision Industries 1286.HK drop 10.8% to HK$9.39, their lowest point since April 27

** Stock posts its biggest intraday pct decline since May 14

** Impro Precision, a castings products and precision machining parts producer, plans sale of 60 million new shares to key shareholder, raising HK$546 million ($69.68 million) for capital expenditures of Mexico and China plants and to repay bank borrowings, among others

** Shares will be offered at HK$9.10 apiece, representing a 13.6% discount to Tuesday's close of HK$10.53 each

** Key shareholder will buy the new shares on completion of sales of the same amount of existing shares at the same price to third-party investors

** YTD, stock up 104.1%, while the benchmark Hang Seng Index .HSI down 1.1%

($1 = 7.8353 Hong Kong dollars)