AI company Unisound AI Technology Co. Ltd. (9678.HK) said on Wednesday it plans to sell 1.7 million new shares for HK$228 each, representing a discount of about 19.89% to its last closing price of HK$284.60 before a trading suspension. The company expects to raise net proceeds of about HK$381 million from the placement ($48.6 million).
The placement shares will account for about 2.28% of the company’s enlarged issued share capital and will be sold to six or more buyers. The company said about 45% of the proceeds will be used to train its next-generation “U-series” agent-native multimodal foundation model, targeting a near-trillion-parameter general AI model. Another 40% will be used for building a global large-model “Token Factory” and expanding overseas token-related businesses, including low-latency token distribution networks across Asia, Europe, North America and the Middle East.
Unisound completed two previous share placements in January and February this year, raising a combined total of nearly HK$500 million. Those proceeds were mainly used for its Atlas AI infrastructure, upgrades to its “Cloud Brain” platform and industry-specific AI agents. The company said the latest fundraising differs from the previous two, describing it as a key funding move to transition from existing large-language models toward next-generation native AI agent architecture.
Unisound‘s stock opened lower on Thursday and traded at HK$265 at the midday break, down 6.89%. The stock has fallen about 34.2% year-to-date.
By Lee Shih Ta
To subscribe to Bamboo Works weekly free newsletter, click here
