INKEVERSE Surges Nearly 5% at Open on HKEx Following Share Placement Plan to Raise Over HK$300 Million for GPU Acquisition

Stock News05-28

INKEVERSE (03700) opened sharply higher, gaining nearly 5% on the Hong Kong stock exchange. As of the latest update, the stock was up 4.72% to HK$1.11, with a turnover of approximately HK$1.43 million. The surge follows the company's announcement of a proposed share placement. The plan involves issuing 387.5 million shares at a price of HK$0.85 per share, which is expected to raise net proceeds of about HK$328 million. Approximately 75% of the funds raised will be allocated to acquiring high-performance GPUs to establish and expand the group's GPU computing infrastructure. The remaining 25% is intended to serve as general working capital for the GPU computing infrastructure over the next 12 months and to cover the daily administrative expenses of the group's overseas teams.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment