DIPU Technology Plans H-Share Placement of 14.3 Million Shares at HK$35 Each to Raise About HK$500 Million
DIPU Technology announced a placement of 14.286 million new H-shares at HK$35 each, a 3.74% discount to the previous closing price of HK$36.36, to raise approximately HK$500 million. Net proceeds of about HK$488 million will fund R&D in enterprise AI employee infrastructure and token productivity platforms, product innovation, and strategic investments.
DIPU Technology announced a plan to place 14.286 million new H-shares at HK$35 per share, a discount of 3.74% to the previous closing price of HK$36.36. The placement is expected to raise approximately HK$500 million, with net proceeds of about HK$488 million.
The placement shares will represent approximately 4.095% of the total issued shares after enlargement. The company said the net proceeds will be used to support research and development efforts focused on enterprise AI employee infrastructure and token productivity platforms, advance product and service innovation and construction, prudently seek strategic investment and acquisition opportunities with synergies to the main business and development strategy, and supplement working capital and general corporate purposes.
According to a Hong Kong Stock Exchange filing, the company has entered into a placing agreement with a placing agent, which will use its best efforts to procure no fewer than six independent placees to subscribe for the placement shares. The placement shares account for approximately 4.27% of the total issued shares as of the date of the announcement. The company will issue the placement shares under a general mandate and will apply to the Stock Exchange for listing and permission to deal in the placement shares.