The Zhitong Finance app learned that Duoniu Technology (01961) once rose more than 10% in early trading. As of press release, it had risen 5.59% to HK$1.51, with a turnover of HK$1,314,400.
According to the news, Duoniu Technology announced that it will place up to 16.9 million new shares, equivalent to 2.68% of the expanded share capital; the placement price is HK$1.775, a premium of about 24.13% over the previous trading day (December 1). The net proceeds amount to HK$29 million, which is intended to be used for further development of game products and artificial intelligence products; diversified development of the gaming sector; and general working capital.