Adtiger (HKG:1163) agreed to place up to 149.4 million shares to at least six independent third parties at HK$0.09 apiece on Friday for a maximum gross proceeds of HK$13.4 million, a same-day Hong Kong bourse filing said.
The shares to be placed represent 16.7% of the enlarged issued share capital of the company.
The media company plans to use the net proceeds of HK$13.1 million to improve the group's AdTensor platform services and for the general working capital.
Adtiger shares were up nearly 3% in recent trade.
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