Easou Technology (HKG:2550) completed the top-up placement of shares to raise HK$338 million in net proceeds, according to a Hong Kong bourse filing Wednesday.

Shares of the digital content company rose over 10% in recent Thursday trade.

Growth Value, a controlling shareholder, sold 65.79 million existing shares to independent investors at HK$5.26 apiece. In turn, the company issued the same number of new shares to Growth Value at the same price under its general mandate.

Net proceeds will be used to invest in internet digital center assets, artificial intelligence, and Web3 ventures, and working capital, a previous filing said.