IB SETTLEMENT (00147) saw its shares spike more than 70% during early trading on Monday, before paring gains to trade up 58.45% at HK$0.225 by the time of writing, with turnover reaching HK$71.78 million.

The company disclosed in an evening announcement that it is currently in preliminary discussions with an independent third party regarding potential investment opportunities in the technology sector. As of the date of the announcement, these discussions are still ongoing.

The terms and conditions of the potential investment have yet to be finalised, and as of the announcement date, the group has not entered into any formal agreement in connection with the potential investment. There is no guarantee that the potential investment will materialise or ultimately be completed, and therefore, it may or may not proceed.

Should the potential investment be realised, it may constitute a disclosable transaction for the company under Chapter 14 of the Listing Rules. The company will make further announcements in due course as required by the Listing Rules.