FINWIRES · TerminalLIVE
FINWIRES

Pateo Connect Technology to Raise HK$114 Million via Share Subscription

By

-- Pateo Connect Technology (Shanghai) (HKG:2889) plans to raise about HK$113.6 million in net proceeds through a share subscription, according to a Tuesday Hong Kong bourse filing.

The company will issue 895,980 new shares at HK$127.35 each to The Triplex.

The subscription represents about 1.19% of the company's existing issued H shares.

The price reflects a discount of about 10% to the last closing price and about 10.2% to the five-day average.

Net proceeds will be used for AI technology applications, product development, and business expansion, as well as working capital and general corporate purposes.

Related Articles

Asia

Beijing-Shanghai High-Speed Railway's Q1 Profit Up 6%, Revenue Rises 3%

Beijing-Shanghai High-Speed Railway (SHA:601816) posted first-quarter attributable net profit of 3.14 billion yuan, up 6% from 2.96 billion yuan the previous year.Earnings per share rose to 0.0642 yuan from 0.0604 yuan, according to a Thursday filing with the Shanghai bourse.Operating revenue at the rail transportation services provider rose 3.3% year over year to 10.6 billion yuan from 10.2 billion yuan.

$SHA:601816
International

Australia's Producer Prices Rise in March Quarter

Australia's producer prices, excluding exports, increased 0.4% in the March quarter, following a 0.8% rise in the December 2025 quarter, according to data from the Australian Bureau of Statistics published Friday.The main drivers of quarterly growth were property operators, up 1% amid strong demand and rising residential rents; petroleum refining and petroleum fuel manufacturing, up over 10% due to higher oil prices; and tertiary education services, which rose 2.2% due to annual fee adjustments, the report said.Selected producer price indexes rose across key sectors, including a 2.1% increase in manufacturing driven by non-ferrous metals, a 1% rise in construction driven by house building, and an increase in education and training services due to higher export fees in higher education.On an annual basis, final demand growth rose 3% in the year to the March quarter, down from a 3.7% increase a year earlier.

$^AXJO
Asia

ASX Midday Sector Update: Materials Stocks Lead Broad Market Gains

Materials stocks were leading gainers in midday trading on Friday, with a rise of 2.4%, as all other sectors were also in the green following a strong rally in the US and a decline in the price of Brent crude.Sector heavyweights BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) both advanced around 3%.EQ Resources (ASX:EQR) fell nearly 9% after saying it will not proceed with a proposed acquisition of Tungsten Metals Group following a review of strategic priorities.

$^AXJO$ASX:BHP$ASX:EQR$ASX:RIO