HK Stock Market Move | EASOU TECH (02550) fell more than 4%, offering a discount of about 14.7% for a rights issue, raising a net amount of approximately 338 million Hong Kong dollars, prioritizing old shareholders before new ones.

EASOU TECH (02550) fell more than 4%, falling by 4.05% to HK$5.92 as of the time of writing, with a turnover of HK$253 million. In terms of news, EASOU TECH announced that on July 24th, they entered into a placement and subscription agreement with their controlling shareholder Growth Value LTD. and the placing agent. They will place a total of 65.787 million shares in a "first old then new" manner, representing approximately 14.6% of the total number of issued shares after the completion of the subscription. The placing price is HK$5.26 per share, a discount of approximately 14.7% from the closing price of HK$6.17 on July 23rd. The net proceeds from the subscription are expected to be approximately HK$338 million. 50% will be invested in internet data center assets, 30% will be invested in companies related to artificial intelligence technology and its applications (with a focus on AI-generated content), third-generation internet (Web 3.0) business (such as real-world asset businesses), and/or digital content creation, and 20% will be used for the group's operating funds.