HK Stock Market Move | SCHOLAR EDU (01769) rises by over 4% again. Earlier announced a discount of approximately 13% for the rights issue, raising a net amount of HK$2.41 billion.

SCHOLAR EDU (01769) rose by over 4% again, with the stock soaring over 26% yesterday. As of the time of writing, it has increased by 4.69%, trading at HK$3.35, with a transaction amount of HK$39.1475 million. On the news front, on the evening of October 15th, SCHOLAR EDU announced that it had issued a total of 110 million new shares to more than six independent third parties, equivalent to an increase of 16.3% in the enlarged share capital. The price per share was HK$2.2, a discount of 13.04% from the closing price on October 15th. The total subscription amount was HK$242 million, with a net amount of HK$241 million to be used for improving the group's teaching quality and students' learning experience; future potential artificial intelligence projects; and supplementing operating funds.