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FOURTH PARADIGM Places Shrs at 11.6% Discount for $1.394B Net Proceeds
Recommend 1 Positive 6 Negative 8 |
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FOURTH PARADIGM (06682.HK) announced a placing of up to 27.92 million shares of the company, accounting for about 9.47% of the enlarged H-shares and about 5.65% of the number of shares in issue, at $50.2 per share, representing a discount of about 11.62% to yesterday (6th)'s closing price of $56.8. It is expected that the net proceeds from the Placing will be approximately $1.394 billion. The net proceeds from the Placing will be used for: research and development of core products, which focuses on investing in generative AI research and development, optimizing algorithms, enhancing product performance and solidifying technological advantages; business expansion, which actively explores new markets, particularly overseas and emerging markets, support the business development of the Group’s overseas entities, strengthen marketing channels development, enhance brand influence and explore opportunities for business synergies; merger and acquisition opportunities, which continuously monitor high-quality asset acquisitions to achieve resource integration and rapid growth, thereby improving industry competitiveness; and general corporate purposes. AAStocks Financial News |
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