Economic Information Daily News (29th) reports that Nobicon (02635) is currently down 7.5%, trading at HK$8.77. At the current price, the stock has declined for three consecutive days, with a cumulative drop of 14%. The stock's turnover is approximately 2.02 million shares, involving a transaction value of HK$17.88 million.
Nobicon plans to place 16.4885 million new shares to no fewer than six independent placing subscribers, representing about 4.17% of the enlarged share capital. The issue price is set at HK$8.19 per share, representing a discount of approximately 13.61% to the company's closing price of HK$9.48 on the previous day, with net proceeds of approximately HK$131 million.
The company intends to allocate approximately 40% of the net proceeds to the research and development of artificial intelligence operation and maintenance technologies for large-scale infrastructure, covering comprehensive railway transportation systems, large-scale petrochemical equipment, and civil aviation airport sectors; approximately 20% will be used to expand overseas operations, including establishing overseas subsidiaries, participating in operation and maintenance projects of rail transit along the Belt and Road routes, and smart airport projects in the Middle East and Asia; approximately 20% will be used for potential industry acquisition targets such as foundational computing power, AI model, and industry application companies, with the remaining approximately 20% to supplement working capital.
The placement is subject to certain conditions, including the approval of the listing of the new shares by the Hong Kong Stock Exchange, and the expected settlement date is October 16. (am)
Nobicon plans to place 16.4885 million new shares to no fewer than six independent placing subscribers, representing about 4.17% of the enlarged share capital. The issue price is set at HK$8.19 per share, representing a discount of approximately 13.61% to the company's closing price of HK$9.48 on the previous day, with net proceeds of approximately HK$131 million.
The company intends to allocate approximately 40% of the net proceeds to the research and development of artificial intelligence operation and maintenance technologies for large-scale infrastructure, covering comprehensive railway transportation systems, large-scale petrochemical equipment, and civil aviation airport sectors; approximately 20% will be used to expand overseas operations, including establishing overseas subsidiaries, participating in operation and maintenance projects of rail transit along the Belt and Road routes, and smart airport projects in the Middle East and Asia; approximately 20% will be used for potential industry acquisition targets such as foundational computing power, AI model, and industry application companies, with the remaining approximately 20% to supplement working capital.
The placement is subject to certain conditions, including the approval of the listing of the new shares by the Hong Kong Stock Exchange, and the expected settlement date is October 16. (am)
