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UBTECH ROBOTICS Opens 10% Lower after ~20% Discounted Placing to Raise Net Proceeds $408M
UBTECH ROBOTICS (09880.HK) opened 10.03% lower this morning, bottoming at $96.9. It last reported at $100.7, down 6.5%, with 442,800 shares traded, involving $44.2914 million.The c...
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UBTECH ROBOTICS Opens 10% Lower after ~20% Discounted Placing to Raise Net Proceeds $408M
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UBTECH ROBOTICS (09880.HK)  +1.950 (+2.234%)   opened 10.03% lower this morning, bottoming at $96.9. It last reported at $100.7, down 6.5%, with 442,800 shares traded, involving $44.2914 million.

The company announced that it proposed to place 5.06 million shares, representing approximately 1.19% of the enlarged share capital, at a price of $86.18 per share, representing a discount of approximately 19.98% to yesterday's (22nd) closing price of $107.7.

The net proceeds to be received by the Company from the Placing are estimated to be $408 million. The Company intends to apply the net proceeds for the Group’s business operation and development and repayment of amounts due under the credit facilities granted by the relevant financial institutions to the Group companies.
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