Asia
Pinestone Capital Seeks HK$60 Million via H-Share Placement; Shares Jump 19%
Pinestone Capital (HKG:0804) seeks to raise estimated net proceeds of about HK$60.4 million through the placement of 12.2 million new H-shares at HK$5.22 apieceThe company plans to place the shares with at least six independent investors, according to a Wednesday Hong Kong bourse filing.The company plans to use the proceeds to expand its margin financing and money lending businesses, apply for a virtual asset license, and enhance its artificial intelligence capabilities.Shares of the company jumped nearly 19% in recent trade.
HKG:0804
