Newlink Technology Reallocates Proceeds from Global Offering

MT Newswires Live09-24

Newlink Technology (HKG:9600) reallocated its unutilized IPO proceeds by allocating the surplus amount of HK$49.2 million for the general working capital. HK$38.9 million for the development of innovative universal products and HK$20.0 million for the development of innovative financial products, a Monday bourse filing said.

The company had acquired net proceeds of HK$790.4 million from its global offering and still had unutilized IPO proceeds of HK$208.7 million as of June 30.

The big data and AI company's shares closed nearly 3% higher on Tuesday.

Price (HKD): $0.38, Change: $+0.010, Percent Change: +2.74%

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