HK Stock Market Move | INFINITIES TECH(01961) soared over 93% at one point, planning to issue additional shares at a premium of 14.75% to expand its gaming and AI business.

INFINITIES TECH (01961) soared over 93% this morning, and as of the time of writing, it has risen by 57.38% to HK$0.48, with a trading volume of HK$2.13 million. In terms of news, on the evening of March 4, INFINITIES TECH announced the sale of up to 147 million new shares, equivalent to an increase in share capital of 16.67%; the sale price is HK$0.35, a premium of 14.75% over the closing price on March 4. The total amount raised is HK$51.4 million, with a net amount of HK$50.8 million, intended for further research and development of gaming products and artificial intelligence products; diversifying the gaming sector and promoting traffic on the advertising platform; and for general operating expenses.