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Sprocomm Intelligence Limited ( (HK:1401) ) has provided an update.
Future Machine Limited has announced a proposed rights issue to raise approximately HK$140 million by offering 500,000,000 rights shares at a subscription price of HK$0.28 per share. This initiative aims to strengthen the company’s capital base, although it is subject to certain conditions, including stock exchange approvals. The rights issue will be conducted on a non-underwritten basis, and if undersubscribed, the size of the issue will be reduced, potentially diluting the shareholdings of non-participating shareholders.
More about Sprocomm Intelligence Limited
Future Machine Limited, formerly known as Sprocomm Intelligence Limited, is incorporated in the Cayman Islands and operates within the financial sector. The company is listed on the Hong Kong Stock Exchange under the stock code 1401.
Average Trading Volume: 3,094,819
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.01B
For an in-depth examination of 1401 stock, go to TipRanks’ Overview page.