Many Idea Cloud to Vote Oct. 20 on 6-for-1 Rights Issue
MT Newswires Live
Sep 26
Shareholders of Many Idea Cloud (HKG:6696) will vote Oct. 20 on a 6-for-1 rights issue to raise gross proceeds of up to HK$273.8 million, a Friday Hong Kong bourse filing said.
The marketing firm plans to issue up to 576 million rights shares at HK$0.4753 apiece to qualifying shareholders.
The rights shares represent 85.7% of the firm's enlarged issued share capital.
The firm will use proceeds to develop and enhance its AI capabilities, as well as to replenish its working capital and boost business development.
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