UNISOUND (09678.HK) placed 1.7 million new H shares at HKD228 each, a 19.9% discount to the prior close of HKD284.6. The placing raised net proceeds of approximately HKD381 million. Funds will be allocated to AI model training, global Token factory expansion, and marketing initiatives.
UNISOUND (09678.HK) placed 1.7 million new H shares at HKD228 apiece, a 19.9% discount, raising net proceeds of HKD381 million.
The company announced the placing in a filing, saying the funds will support its expansion into AI-native large language models and global Token infrastructure. The new shares represent about 3.77% of the enlarged H share capital and 2.28% of total issued shares.
Of the net proceeds, 45% will fund training of the new-generation U-Series intelligent agent-native multimodal base large model, 40% will go toward establishing global large-model Token factories and expanding overseas Token operations, and 15% will be used for promotion and marketing. The placing price of HKD228 compares with the previous day's close of HKD284.6.
The discount placing dilutes existing shareholders by about 2.28% of total shares outstanding. UNISOUND shares fell 4.9% on the announcement, reflecting near-term pressure from the dilution. The company's strategic pivot toward AI and Token infrastructure marks a shift in focus, though execution on the U-Series model and Token factory buildout remains unproven.
The dilution from the placing will test investor appetite for UNISOUND's AI strategy. Investors will watch for development milestones on the U-Series model and deployment timelines for the Token factories.
This article is for informational purposes only and does not constitute investment advice.
