STOCKS | Potevio Auto-Link Places 2.26 Million Shares at HK$173.4, 17.59% Discount

Potevio Auto-Link (2889) placed 2.2593 million shares at HK$173.4 each, a discount of about 17.59% to the previous day’s price. According to Ming Pao, the new shares represent about 2.73% of the enlarged share capital and the placement raised net proceeds of HK$381 million. The company said about 80% of the proceeds will be used for potential future strategic M&A and investments, with about 20% for working capital and general corporate purposes.