Vobile Group Announces HK$522 Million Share Placement to Boost AI Ventures

Vobile Group ( (HK:3738) ) has shared an update.

Vobile Group Limited announced a placing of 138,000,000 new shares under a general mandate, representing approximately 5.96% of its existing issued share capital. The placing is expected to raise gross proceeds of approximately HK$522 million, with net proceeds of around HK$513 million. The company plans to allocate 65% of the net proceeds for AI content development, 10% for repaying borrowings, and 25% for general working capital. This strategic move aims to enhance Vobile Group’s operational capabilities and strengthen its position in the AI industry.

The most recent analyst rating on (HK:3738) stock is a Buy with a HK$5.40 price target. To see the full list of analyst forecasts on Vobile Group stock, see the HK:3738 Stock Forecast page.

More about Vobile Group

Vobile Group Limited is a company incorporated in the Cayman Islands with limited liability. It operates in the technology sector, focusing on the development and investment in artificial intelligence-generated content-related businesses.

Average Trading Volume: 19,686,976

Technical Sentiment Signal: Buy

Current Market Cap: HK$9.22B

For detailed information about 3738 stock, go to TipRanks’ Stock Analysis page.