Shares of XtalPi Holdings Ltd (02228), a provider of drug discovery and intelligent automation solutions, surged 18.21% on Wednesday as investors reacted positively to the company's plans for a share placement and its involvement in an AI integration project.
XtalPi announced a private placement of 342.3 million shares at HK$6.10 per share, aiming to raise around HK$2.09 billion (US$268.8 million). The proceeds will be used for research and development, product commercialization, and working capital purposes. The new shares represent 8.52% of the company's enlarged issued share capital.
Additionally, XtalPi's subsidiary Shenzhen Jingtai is partnering with state-owned Guangdong Hengjian Investment to advance the implementation of an "AI+" technology and industry integration innovation consortium project. The project focuses on "AI+ Robotic Automation" and aims to build AI research infrastructure for the future development of AI-based industries such as pharmaceuticals, new materials, new energy, and robotics in China's Greater Bay Area and globally.
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