Nuobikan AI Technology to Raise HK$132 Million via Share Placement

MT Newswires Live10:33

Nuobikan Artificial Intelligence Technology (Chengdu) (HKG:2635) plans to place 16.5 million new H-shares at HK$8.19 each, raising net proceeds of about HK$131.5 million, according to a Tuesday filing with the Hong Kong bourse.

The placing price represents a 13.61% discount to the Sept. 28 closing price of HK$9.48 and an 18.33% discount to the five-day average closing price of HK$10.03.

The company plans to allocate the net proceeds to research and development of AI operations and maintenance technologies, overseas business expansion, potential acquisitions of industry targets, and working capital.

The new shares will account for 5.42% of the company's existing H shares and 4.35% of its existing issued shares, excluding treasury shares.

The placing will be conducted under the company's general mandate and is expected to involve at least six independent placees.

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