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An update from Sprocomm Intelligence Limited ( (HK:1401) ) is now available.
Future Machine Limited, a company incorporated in the Cayman Islands, successfully completed its Rights Issue, raising approximately HK$140 million in gross proceeds. The Rights Issue was initially under-subscribed, but all remaining shares were placed with independent investors. The net proceeds of approximately HK$138 million will be used to support the company’s mobile phone and related products business, expand production lines, enhance workforce capacity, and explore strategic investments, particularly in the artificial intelligence sector.
The most recent analyst rating on (HK:1401) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sprocomm Intelligence Limited stock, see the HK:1401 Stock Forecast page.
More about Sprocomm Intelligence Limited
Average Trading Volume: 3,571,612
Technical Sentiment Signal: Sell
Current Market Cap: HK$900M
See more insights into 1401 stock on TipRanks’ Stock Analysis page.