Marketingforce Management (HKG:2556) completed subscriptions of 12.3 million new shares at HK$40.54 apiece, raising net proceeds of about HK$499.7 million, according to a Wednesday Hong Kong bourse filing.

Shares of the marketing and sales software company were down nearly 2% in morning trade on Thursday.

The new shares represent about 4.6% of the company's enlarged issued share capital.

The company said proceeds will be used to invest in intelligent computing infrastructure, including GPU servers, AI data center leasing, large language model development, and other AI-related software.

Marketingforce expects to fully deploy the proceeds by the end of 2026.