International Business Digital Technology raises HK$100.8m via share placement

International Business Digital Technology Limited has announced a conditional placing of up to 28,000,000 new shares at HK$3.60 per share, aiming to raise approximately HK$100.8 million in gross proceeds. This placement, conducted through DL Securities (Hong Kong) Limited, represents a discount of approximately 8.86% to the closing price and 9.46% to the average closing price over the last five trading days. The shares will be allotted under a general mandate and rank equally with existing shares.

The net proceeds, estimated at HK$99.72 million, are primarily earmarked for strategic investments. Approximately 65.18% (HK$65 million) will fund the development of three new technologies for the company's Application Performance Management (APM) business, with full utilization expected by December 31, 2027. Another 20.06% (HK$20 million) is allocated for the deployment of virtual asset services business in overseas markets, contingent on regulatory approvals, also with full utilization expected by December 31, 2027.

The remaining 14.76% (HK$14.72 million) will be used for general working capital purposes, with full utilization by December 31, 2027. The board considers the placing terms fair and reasonable, serving the company's and shareholders' best interests by raising additional funds and broadening the shareholder base.