HK-listed Weimob at 3-week high on report of raising $601 mln from equity combo

Weimob

25/05/2021 08:23

** Shares of China's cloud-based commerce and marketing
solutions provider Weimob Inc  2013.HK  rise as much as 5.7% to
HK$16.98, their highest since May 4  
    ** Stock is on course for the best session since May 12 and
is the second-biggest percentage gainer in the Hang Seng Tech
Index  .HSTECH  
    ** Weimob has raised a total of $601 mln from placement of
$301 mln worth of shares and an issue of $300 mln convertible
bond, and Tencent  0700.HK  has agreed to take up $50 mln of the
share placement, Refinitiv publication IFR reported  urn:newsml:reuters.com:*:nIfp7D4x7w
    ** Says company plans to use the proceeds to improve its
research and development capabilities, and upgrade marketing
system 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  surges 2.2%, and the Hang Seng Tech
Index  .HSTECH  rises 1.7%
    ** The Hang Seng China enterprises index  .HSCE  climbs
1.4%, and the benchmark index  .HSI  jumps 1.7%
    ** As of last close, the stock has gained 15.2% this year 

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)