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Unisplendour to Raise 5.41 Billion Yuan From Share Placement; Shares Down 5%

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Unisplendour (SHE:000938) plans to raise 5.41 billion yuan in proceeds from a share placement, according to a Shenzhen bourse filing on Tuesday.

The digital and artificial intelligence company plans to issue 430 million shares, representing 15.04% of the company's total shares before the offering, to up to 35 investors.

Proceeds will be used for the acquisition of 6.98% of H3C Technologies, for a research and development equipment procurement project and debt payment.

The company's shares dropped 5% during the morning trade.

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