RIVERINE CHINA (01417) shares jumped more than 14%, rising 14.19% as of press time to HK$5.35, with a turnover of HK$4.1222 million.

On the evening of 30 September, RIVERINE CHINA announced a plan to place up to 33 million shares, representing approximately 7.53% of the enlarged share capital, at a placement price of HK$4 per share.

The placement price represents a discount of approximately 14.62% to the closing price of HK$4.685 on 30 September.

The total funds raised are approximately HK$132 million, with net proceeds of approximately HK$130.08 million.

The company intends to use the net proceeds primarily for leasing computing power resources, enhancing research and development capabilities, expanding customer coverage and service capabilities, and for general working capital.

The net proceeds are expected to be fully utilized by the end of March 2027.