Ruihe Data Technology Raises HK$84 Million Through Share Placing for Debt Repayment and Growth

Suoxinda Holdings Limited ( (HK:3680) ) has shared an announcement.

Ruihe Data Technology Holdings Limited has completed a placing of 108,334,000 new shares, representing about 12.05% of its enlarged share capital, at HK$0.783 per share to at least six independent investors, raising net proceeds of approximately HK$84.29 million. Around 70% of the funds will be used to repay upcoming borrowings and bolster working capital for professional fees, staff costs, interest expenses, and R&D, while the remaining 30% is earmarked for future strategic investments related to its core business, excluding any direct or indirect exposure to cryptocurrencies, potentially strengthening its balance sheet and providing flexibility for growth initiatives.

The most recent analyst rating on (HK:3680) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Suoxinda Holdings Limited stock, see the HK:3680 Stock Forecast page.

More about Suoxinda Holdings Limited

Ruihe Data Technology Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating under stock code 3680. The group focuses on data-related technology businesses and associated services, positioning itself in the broader technology and data solutions space, and relies on capital market financing to support its operations and strategic development.

Average Trading Volume: 1,518,652

Technical Sentiment Signal: Hold

Current Market Cap: HK$1.28B

For an in-depth examination of 3680 stock, go to TipRanks’ Overview page.