Many Idea Cloud Raises HK$272 Million via Fully Placed Rights Issue for AI and Digital Ad Expansion
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Many Idea Cloud Holdings Limited has raised approximately HK$272 million through a fully placed rights issue of 576 million shares, with a subscription ratio of six rights shares for every one share held. The funds will be allocated towards advancing AI model development and acquiring online media resources for digital advertising on major Chinese platforms. The company aims to enhance its technology-driven marketing services, leveraging AI to improve campaign effectiveness for clients.
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