HK Stock Movement | INSPUR DIGI ENT (00596) Drops Over 9% After Discounted Placement Attracts Long-Term Capital

Stock News11-21

INSPUR DIGI ENT (00596) fell more than 9% intraday, trading at HK$7.05 by press time, down 8.91% with a turnover of HK$65.40 million. The decline follows the company's recent announcement of a lightning placement on November 16.

The placement involved 67.63 million shares priced at HK$7.3 apiece, representing a 6.77% discount to the closing price on November 14. Net proceeds are estimated at HK$490 million. Concurrently, the board proposed relocating its registration from the Cayman Islands to Hong Kong.

First Shanghai noted the placement attracted no fewer than six long-term investors, with CPE Yuanfeng Capital—a prominent industrial investor—taking over 60% of the allotment. CPE Yuanfeng had signed a strategic cooperation agreement with INSPUR Computer on November 4. As the core subsidiary of INSPUR Group driving domestic software substitution, INSPUR DIGI ENT's high-quality business value earned strong endorsement, with investors expected to hold shares for at least two years.

The move is seen as optimizing shareholding structure, potentially facilitating inclusion in the Stock Connect program.

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