BRIEF: iMotion raises $10 million in share placement
Autonomous driving technology company iMotion Automotive Technology (Suzhou) Co. Ltd. (1274.HK) announced on Tuesday that it will place 4.43 million new shares at a price of HK$17.58 per share, raising approximately HK$78 million ($10 million). The placement price represents a 13.2% discount to the stock’s Monday’s close, and the new shares account for 1.92% of the company’s enlarged issued share capital.
Proceeds from the placement will be used to enhance the iMotion’s development of advanced intelligent driving and automated driving and cockpit integrated solutions and products, and for R&D and manufacturing facilities, and to expand the company’s overseas sales and service networks.
The company’s stock opened down 2.3% at HK$19.78 on Tuesday morning.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
iMotion Automotive rides DeepSeek fever to new fundraising
1274.HK - DeepRoute.ai gets $100 million charge from auto investor
-
Hesai zooms ahead in third quarter, setting stage for milestone year
HSAI.US
-
BRIEF: Ubtech raises $113 million in fourth post-IPO share placement
9880.HK
- CiDi sets IPO course with its self-driving trucks
-
BRIEF: MicroPort MedBot raises $35 million in share placement at 20% discount
2252.HK
-
BRIEF: Black Sesame to raise $160 million through share placement
2533.HK
