HK Stock Market Move | INSPUR DIGI ENT (00596) is currently down more than 9%. The company recently conducted a lightning placement at a discount to introduce long-term capital, which is beneficial in the long run.

INSPUR DIGI ENT (00596) is currently down more than 9%, as of the time of writing, it is down 8.91%, trading at 7.05 Hong Kong dollars, with a trading volume of 65.3992 million Hong Kong dollars. On the news front, on November 16, INSPUR DIGI ENT announced a lightning placement, with a total number of placement shares being 67.634 million shares, at a placement price of 7.3 Hong Kong dollars per share, representing a discount of about 6.77% compared to the closing price on November 14 trading day, expecting to raise approximately 490 million Hong Kong dollars. In addition, the board of directors proposed to relocate the company's place of registration from the Cayman Islands to Hong Kong, China. FIRST SHANGHAI pointed out that the number of underwriters for this placement is no less than 6 and all are long-term investors, with the core investor being the well-known industrial investor CPE Source Peak Capital, which accounts for over 60% of the placement quota. This institution has reached a strategic cooperation agreement with Inspur Group on November 4, with INSPUR DIGI ENT being a core sector of domestic software localization under Inspur Group, and has been highly recognized and optimistic about its high-quality business value, with an expected holding period of no less than two years. The bank believes that optimizing the equity structure will lay a more favorable foundation for inclusion in the Hong Kong Stock Connect.