Ubtech Robotics (HKG:9880) plans to raise HK$121.9 million in net proceeds by placing 1,420,000 new H Shares, according to a Thursday filing on the Hong Kong bourse.
The placing price is HK$92.00 per H Share. The shares represent 0.34% of the total issued share capital as enlarged by placement. The placement is subject to certain conditions.
The company plans to use the proceeds for working capital and general corporate purposes, and offshore and onshore investments as well as debt retirement.
Shares of the company were down over 4% in morning trade Thursday.
Price (HKD): $105.10, Change: $-4.60, Percent Change: -4.19%
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