Lates News

On the morning of September 18th, Weimob Group announced on the Hong Kong Stock Exchange that on September 17th of the year, the company entered into a subscription agreement with the subscriber after trading hours. According to the agreement, the subscriber has conditionally agreed to subscribe and the company has conditionally agreed to issue and distribute a total of 688,494,000 subscription shares at a subscription price of HK$2.26 per share, and has entered into a placement agreement with the placing agent regarding the subscription matter. The net proceeds from the subscription matter are expected to be approximately HK$15.5529 billion, with around 30% to be used for exploring the integration and application of AI in SaaS, around 30% to expand media channels and enhance precise marketing services, around 10% for overseas business development, and around 30% for supplementing working capital and general corporate purposes. The company expects that all net proceeds will be fully utilized by the end of 2027.