Shanghai Conant Optical to Raise HK$828 Million Net Proceeds in Placing Deal

MT Newswires Live2024-12-23

Shanghai Conant Optical (HKG:2276) plans to sell 53,325,000 shares to Goertek (HongKong) aiming to raise net proceeds of up to HK$827.9 million, according to a Monday filing with the Hong Kong Exchange.

Goertek (HongKong) is an indirect subsidiary of Shenzhen bourse-listed Goertek (SHE:002241).

Conant will sell the shares through placing agent ICBC International Securities at HK$15.86 apiece.

Proceeds will be used for research, development, design, and manufacture of lenses for smart glasses and extended reality headsets, the filing said.

Following the transaction, Goertek (HongKong) will hold an 11.11% stake in Conant.

Shares jumped over 2% during Monday's trading.

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