Changes in Hong Kong stocks | Cambridge Technology (06166) rose more than 6% and plans to spend about 100 million US dollars to increase capital and expand production of the US subsidiary CIG

The Zhitong Finance App learned that Cambridge Technology (06166) rose by more than 6%. As of press release, it had risen 6.11% to HK$87.75, with a turnover of HK$79.261,800.

According to the news, on the evening of December 8, Cambridge Technology announced that it plans to raise capital of CIG America by issuing overseas listed foreign shares (H shares) to raise capital by 100 million US dollars. The capital increase will be earmarked to expand the production capacity of high-speed optical modules in North America and Southeast Asia, enhance overseas R&D scale and technology iteration capabilities, expand key markets and customer channels, strategically reserve key components, strengthen industrial chain collaboration and supply chain security, and supplement operating capital.

Cambridge Technology said that this capital increase is an important measure to implement the strategy of “strengthening investment in R&D, expanding production capacity, and expanding the global market” in the H-share prospectus. It will significantly enhance CIG America's financial strength, reduce its balance ratio, strengthen its synergy with its subsidiaries, and enhance global production delivery and supply chain management capabilities.