MINDTELL TECH (08611) plans to issue new shares at a discount of approximately 32.4% based on a "2 for 1" basis, with a maximum net proceeds of about HK $281 million.

MINDTELL TECH (08611) announced that the company plans to issue up to 234 million new shares at a subscription price of HKD 1.23 per share under a "2 for 1" basis. This represents a discount of approximately 32.4% compared to the closing market price of HKD 1.82 per share on the last trading day on the Stock Exchange. The net proceeds from the share issuance are estimated to be no more than approximately HKD 281 million, and will be used to enhance its existing information technology infrastructure through artificial intelligence solutions, restructure its main data centers in China to increase data capacity, and to develop various software-as-a-service products to diversify its service offerings.