Newlink Technology (HKG:9600) is looking to raise HK$18 million via a stock offering, according to a Hong Kong bourse filing Wednesday.
Shares of the IT firm gained nearly 11% in morning trade Thursday.
The firm is selling 60 million shares priced at HK$0.30 each to a single investor identified as Blossoming M Holdings. Funds raised will be used to meet the company's expenses, including employee salaries.
The shares represent 6.36% of the company's existing issued share capital and around 5.98% as enlarged by the sale.
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