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BLACK SESAME Opens Lower by 3%+ after Announcing Shr Placing at 11.8% Discount
Recommend 8 Positive 21 Negative 9 |
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BLACK SESAME (02533.HK), after announcing a share placing at a discount of 11.8%, had its shares opened 3.23% lower at $25.45 today (19th). BLACK SESAME had announced the placing of 53.65 million shares of the company, equivalent to about 8.55% of the enlarged share capital, at $23.2 per share, representing a discount of about 11.79% to yesterday (18th)'s closing price of $26.3 per share. The placing was expected to raise net proceeds of approximately $1.237 billion, which will be used mainly for further supporting the group’s research and development over its core technologies (including but not limited to new generation of autonomous driving chips and IP cores) and cutting edge technologies (including but not limited to end-to-end, robotic and AI-related technologies); improvement of the group’s commercialization capability; selectively making strategic investments; and general working capital of the company. AAStocks Financial News |
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