IMPERIUM TEC GP (00776) surged nearly 50% again, with its stock price doubling over the past two days. As of press time, the stock was up 35.33% to HK$2.26, with trading turnover of HK$12.26 million.

On the news front, IMPERIUM TEC GP announced on Friday a placement of up to 74.6485 million new shares at a placing price of HK$0.845 per share, representing a 19.52% discount to the closing price on October 2. The net proceeds from the placement of HK$62.35 million are intended to be used for direct and/or indirect investment in developing artificial intelligence technology to support the group's existing business operations; potential direct or indirect investment in identified commercial AI solutions providers, including biotechnology; and for the group's general working capital and general corporate purposes.