Inspur International raised HK $44 mln for acquisitions

Inspur International got its stock suspended on Tuesday in Hong Kong, raising up to 44.3 million HK dollars ($5.71 million) for future acquisitiso wons and general operations.

Inspur International has its stock suspension on Tuesday in Hong Kong, saying it's conducting a top-up placing. The sales documents show that the placing shares are 31 million HK dollars, 1.385-1.43 HK dollars ($0.179-$0.184) per share, raising up to 44.3 million HK dollars ($5.71 million). Compared to its closing price at 15 million HK dollars ($1.93 million) on Monday, the price lowered by 4.7 to 7.7 percent.

According to the sales documents, proceeds from the placing will be used for future acquisitions and for general operations.

Remarkably, however, acquisitions may not necessarily be the assets outside of Inspur Group; it may also be the unlisted assets of Inspur Group itself. Inspur Group had previously injected much capital into Inspur international.

(1$=HK $7.7525)