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UBTECH ROBOTICS Places Shrs at 11.4% Discount, Raising Net Proceeds of HKD3.056B
Recommend 4 Positive 12 Negative 8 |
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UBTECH ROBOTICS (09880.HK) announced the placement of 31.468 million new H shares of the company, representing approximately 6.25% of the enlarged share capital, at a price of HKD98.8 per share, representing a discount of approximately 11.39% to the closing price of HKD111.5 per H Share as quoted yesterday (24th). The company expected the net proceeds from the placement to be approximately HKD3.056 billion. The Company intended to apply the net proceeds from the Placing as follows: over the next two years, to invest in or acquire potential upstream or downstream targets in the Group’s business value chain, or to integrate with related industries or establish joint operating entities, representing approximately 75% of the net proceeds from the Placing. As at the date of this announcement, the Group has not identified any acquisition targets and has not determined the allocation of the net proceeds to such items; the Group’s business operation and development, representing approximately 15% of the net proceeds from the Placing; and repayment of amounts under the credit facilities granted by the relevant financial institutions to the Group companies, representing approximately 10% of the net proceeds from the Placing. AASTOCKS Financial News Website: www.aastocks.com |
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