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HKG:2350

3 stories mentioning HKG:2350Updated 6m ago

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Asia

MTT Signs Framework Deal for Compute-Power-Data Industrial Base in Baotou

MTT (HKG:2350) signed a framework agreement with the Baotou Municipal Government to jointly develop an integrated "Compute-Power-Data" industrial base in Baotou, Inner Mongolia, according to a Tuesday Hong Kong bourse filing.The project will focus on integrating green power, computing capacity, coordinated power and computing dispatch, data processing, and AI talent development.MTT Group will also help establish digital infrastructure and cultivate industries including artificial intelligence, embodied robotics, and data annotation.The framework agreement is non-binding and subject to further negotiations and definitive agreements.Shares of the firm were down nearly 3% in Wednesday morning trade.

HKG:2350
Asia

MTT Group to Raise HK$69 Million via Rights Offering

MTT Group (HKG:2350) said it was seeking to raise HK$68.8 million via a rights offering, according to a Tuesday filing with the Hong Kong bourse.The information technology company's shares fell over 10% in late morning trade Wednesday.The firm plans to offer eligible investors 2 rights shares for every five stocks held in the company. The rights shares will be priced at HK$0.275 each and investors will be offered allotments from a total pool of 250 million shares.Unsold shares will be offered to new investors.The firm will use proceeds from the offering to expand its business.

HKG:2350
Asia

Winding-Up Petition Against MTT Group Unit Dismissed

MTT Group (HKG:2350) said a winding-up petition against its Tritech Distribution unit was dismissed following a sealed order filed with the Hong Kong High Court, according to a Tuesday bourse filing.The parties had reached a settlement related to the petition, which was filed over the alleged non-repayment of $45 million in outstanding invoices from Conversant Solution, in March.

HKG:2350

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