HK Stock Market Move | KARRIE INT'L (01050) fell nearly 7% in mid-day trading. The company plans to sell shares at a discount of nearly 10% to raise funds for expanding overseas production capacity.

KARRIE INT'L (01050) fell nearly 7% during trading, and as of the time of writing, it has dropped 5.34% to 2.48 Hong Kong dollars, with a turnover of 10.9675 million Hong Kong dollars. On the news front, KARRIE INT'L announced that it plans to issue 65.832 million shares at a price of 2.37 Hong Kong dollars per share, at a discount of approximately 9.9% to the closing price on the last trading day. The net proceeds are estimated to be around 152 million Hong Kong dollars. The company plans to use the proceeds to expand the production capacity of overseas (especially in Thailand) server casings (including AI servers), including purchasing new machines, building its own factory in Thailand, and conducting related mergers and acquisitions.