AI TRENDS | Enflame (9903) Weighs $850 Million Share Placement, Bloomberg Says

Enflame (9903) is considering a share placement to raise about $850 million (about HK$6.63 billion), Bloomberg reported, citing a deal term sheet. The shares are said to be marketed at HK$476 to HK$498.4 each, implying a discount of up to 15% to Wednesday’s closing price. The fundraising would be well above the company’s IPO proceeds of about HK$3.677 billion. The report follows separate market talk that Zhipu (2513) is planning a placement to raise up to HK$33.67 billion.