Stock Track | MANYCORE TECH Soars 24.73% Intraday on Strong Investor Demand as Over-Allotment Option Fully Exercised

Stock Track04-21

MANYCORE TECH's stock price surged 24.73% during intraday trading on Tuesday, continuing its strong performance since its recent listing. The spatial intelligence services provider has been experiencing significant investor interest following its debut on the Hong Kong Stock Exchange.

The sharp increase in share price comes as the company announced the full exercise of its over-allotment option, with 24.09 million new shares to be issued at HK$7.62 per share. This exercise, representing 15% of the original offering size, indicates robust institutional demand for the stock. Additionally, the company recently issued 2 million shares following the exercise of options under its Pre-IPO Equity Incentive Plan.

As a globally leading provider of spatial intelligence services with a business system encompassing spatial editing tools, spatial data, and spatial large models, MANYCORE TECH has attracted significant market attention since becoming the first technology company among the "Hangzhou Six Little Dragons" to successfully list on the capital market.

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