HK Stock Market Move | INKEVERSE (03700) opened nearly 5% higher. The company plans to raise over 300 million Hong Kong dollars through a rights issue to be used for the acquisition of high-performance GPUs.

INKEVERSE (03700) opened nearly 5% higher, with a gain of 4.72% as of press time, at 1.11 Hong Kong dollars, with a turnover of 142.64 million Hong Kong dollars. On the news front, INKEVERSE announced plans to issue 387.5 million shares at a price of 0.85 Hong Kong dollars per share, with net proceeds of approximately 3.28 billion Hong Kong dollars from the share placement. Around 75% of the proceeds will be used for the acquisition of high-performance GPUs to establish and expand the group's GPU computing infrastructure, while around 25% will be used for general operating expenses of the GPU computing infrastructure over the next 12 months, as well as the daily administrative expenses of the group's overseas team.