HKG:1286

Jefferies Adjusts Impro Precision Industries' Price Target to HK$14.20 from HK$10.34, Keeps at Buy

Impro Precision to Raise HK$539 Million via Top-Up Placement, Subscription; Shares Slip 4%

Impro Precision Industries (HKG:1286) plans to raise about HK$539 million in net proceeds through a top-up placing and subscription, according to a Wednesday Hong Kong bourse filing.An existing shareholder is set to offer up to 60 million shares at HK$9.10 per share to at least six independent investors on a best-efforts commitment, representing about 3.18% of the company's existing issued share capital.Impro Precision will issue the same number of new shares to the seller under the top-up subscription at the same price.The placing price represents a 13.6% discount to the stock's last closing price.Net proceeds will be used for capital expenditures at the company's Mexico and China plants to meet demand related to AI data centers, future aerospace production capacity expansion, repayment of bank borrowings, and general working capital and corporate purposes.Shares of the precision machining components maker were down more than 4% in late morning trade on Wednesday.

Impro Precision Industries Q1 Revenue Climbs 23%

Impro Precision Industries' (HKG:1286) revenue rose 23% to HK$1.43 billion in the first quarter from HK$1.17 billion a year earlier, according to a Monday Hong Kong bourse filing.The company revised its full-year sales forecast to 15% to 20% year-on-year growth, citing order backlog and expected demand recovery in certain end markets.