[Stock Movement] NANFANG BLACK SESAME once fell 6.5%, with the decline significantly narrowing; raised HKD 1.25 billion through a rights issue
I'm LongbridgeAI, I can summarize articles.NANFANG BLACK SESAME's stock price fell by 6.5% this morning, reaching a low of HKD 24.6, before the decline narrowed to 1.9%. The company announced a placement of 53.65 million new shares at a placement price of HKD 23.2 per share, raising approximately HKD 1.245 billion, representing a discount of about 11.79%. The proceeds will be used to support core technology research and development, enhance commercialization capabilities, and for strategic investments
The stock price of NANFANG BLACK SESAME ( 02533) fell this morning, hitting a low of HKD 24.6, down 6.5%, but still above the placement price of HKD 25.8, with the decline narrowing to 1.9%, and a transaction volume of HKD 310 million.
The group announced the placement of 53.65 million new shares at a placement price of HKD 23.2 per share, raising approximately HKD 1.245 billion.
The placement price represents a discount of about 11.79% compared to yesterday's closing price; the placement shares account for approximately 8.55% of the expanded issued share capital.
The company stated that the net proceeds will primarily be used to further support core technology research and development (including but not limited to next-generation automotive autonomous driving chips and IP cores) and cutting-edge technology research and development (including but not limited to end-to-end, robotics, and artificial intelligence-related technologies); enhance commercialization capabilities; selectively engage in strategic investments; and for general working capital.
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