Many Idea Cloud Completes New Share Subscription

Many Idea Cloud Holdings Limited ( (HK:6696) ) has provided an announcement.

Many Idea Cloud Holdings Limited has successfully completed the subscription of new shares under a general mandate. The company issued 12 million new shares at HK$3.10 each, raising gross proceeds of HK$37.2 million. The net proceeds, approximately HK$37.1 million after expenses, will be primarily used to purchase media resources and promote the Douyin Distribution Channel, with the remainder allocated for general working capital. This move represents a strategic effort to enhance the company’s market presence and operational capacity.

More about Many Idea Cloud Holdings Limited

YTD Price Performance: -27.70%

Average Trading Volume: 259,436

Technical Sentiment Signal: Sell

Find detailed analytics on 6696 stock on TipRanks’ Stock Analysis page.