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Quantgroup to Raise HK$163 Million in Net Proceeds via Share Placement

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Quantgroup Holding (HKG:2685) is raising HK$162.6 million through a private placement offering of new shares, according to a Wednesday bourse filing.

The company said it will offer up to 48.5 million shares at HK$3.40 apiece, reflecting a 15.3% discount to the stock's last closing price. Following the issue, the company will have 568.2 million shares outstanding, up from 519.7 million shares.

Proceeds from the offering are expected to be used for growing the e-commerce business, R&D, and general working capital.

Tiger Brokers, Zheshang International, and Futu Securities International are acting as placing agents for the offering.

Shares of the e-commerce and technology platform company were down 2% in recent trade.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2610
Asia

China Petrochemical Unit Wins Court Ruling Revoking Land Seizure

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TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

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TPE:1795