Voicecomm Technology to Raise HK$101 Million via Share Subscription
Voicecomm Technology (HKG:2495) agreed to issue 2.2 million new shares to Sci-Tech Unicorn at HK$46.3 apiece, raising net proceeds of about HK$101.3 million, according to a Wednesday Hong Kong bourse filing.Shares of the IT firm fell by nearly 1% in late morning trade on Thursday.The subscription price represents a discount of about 2.3% to the stock's closing price on May 20 and about 4.4% to the five-day average closing price.The new shares represent about 5.5% of the company's existing issued share capital and about 5.3% of the enlarged share capital upon completion of the allotment.Voicecomm said about half of the proceeds will be used for research and development, including multimodal AI architecture and multi-agent systems, while the remainder will be used for working capital and general corporate purposes.
