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%
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