The Zhitong Finance App learned that the Chipboard Micropack (09630) rose more than 5% in the afternoon. As of press release, it rose 4.94% to HK$184.9, with a turnover of HK$114 million.

According to the news, Chipboard announced that it plans to use the H share listing to raise capital of no more than HK$97 million to raise capital for its Hong Kong wholly-owned subsidiary, mainly to ensure the smooth implementation of the company's offshore innovation and operation hub construction, enhance the Hong Kong subsidiary's ability to undertake projects and operate funds in overseas sales and service network construction, cutting-edge research and development, etc., to meet the capital requirements during the implementation of the fund-raising project, and to ensure the smooth implementation of the company's overseas business.

In addition, the company plans to hold an extraordinary shareholders' meeting to review and approve a special resolution granting the board of directors general and unconditional authorization to repurchase the company's H shares. The maximum repurchase limit shall not exceed 10% of the total number of H shares issued on the day the resolution is passed (excluding treasury shares).

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