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FINWIRES

Xunce Technology Concludes Share Placement, Convertible Bond Issue

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Xunce Technology (HKG:3317) completed the placing of nearly 7.3 million new shares to raise HK$771 million, according to a Friday Hong Kong bourse filing.

The shares were placed to at least six investors at HK$107.70 apiece and represent roughly 2.21% of the information technology company's enlarged issued share capital.

The company also completed the issue of 1.36 billion yuan of U.S. dollar-settled zero coupon convertible bonds due 2027 and convertible at HK$123.86 per share. The net proceeds from the issue will be around US$196 million.

The listing of and permission to deal in the bonds is expected to become effective July 13.

Proceeds from the placing and subscription will be used for the commercialization and deployment of the company's data tokenization and AI infrastructure capabilities across variety of industries.

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