News: CMGE's 6% discount placement nets HKD 29.5 million
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CMGE Technology Group Limited signed a subscription agreement with three investors to issue approximately 123 million new shares at HKD 0.244 per share, representing a discount of about 6.15%, raising a net amount of HKD 29.5 million. The proceeds will be used to support the development of the game publishing business. The company's revenue fell 28% last year to HKD 1.39 billion, with a loss of HKD 1.471 billion. On Tuesday, the stock price opened high at HKD 0.275, up 5.8%, and has fallen over 29% year-to-date
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