Changes in Hong Kong stocks | Keystone Capital (00804) rose by more than 10% in the intraday period and plans to discount the allotment of about HK$60.4 million to be used to expand the implementation of AI applications, etc.

The Zhitong Finance App learned that Keystone Capital (00804) rose more than 10% in the intraday period, and its stock price had risen more than 1.5 times in the past three trading days. As of press release, it rose 10.43% to HK$7.2, with a turnover of HK$6.4973 million.

According to the news, Keystone Capital announced that on July 29, 2026 (after the trading period), the Company entered into a placement agreement with the placement agent. According to this, the Company has appointed an placement agent to place up to 12.182 million shares to no less than six independent undertakers at a price of HK$5.22 per share based on exhaustive efforts and prior conditions for reaching the placement matters.

The placement price of HK$5.22 per share is compared to approximately 19.94% off the closing price of HK$6.52 per share at the closing price of HK$6.52 on the date of the placement agreement; and the average closing price of the shares on the last five trading days immediately before the placement agreement date of approximately HK$3.77 and a premium of approximately HK$3.77 per share.

Assuming that all of the shares placed were placed, the total and net proceeds from the placement would be approximately HK$63.6 million and HK$60.4 million, respectively. The Company plans to use these net proceeds to expand the provision of secured finance services, money lending services, apply for virtual asset licenses, and expand the implementation of the Group's AI applications.