Shulou(Shulou.com)11/24 Report--

CTOnews.com news on November 29, 360 Digital Science-S was officially listed on the Hong Kong Stock Exchange today at a price of HK $50.03 per share.

As of CTOnews.com 's press time, Hong Kong shares rose 1.64% to HK $50.850, with a total market capitalization of HK $16.173 billion (about 14.912 billion yuan).

According to the HKEx announcement, the listing price of 360Digital in Hong Kong was 50.03 Hong Kong dollars per share, which was 2.46 times subscribed, raising 169.7 million Hong Kong dollars (about 156 million yuan). The funds raised are intended to be used for the following purposes:

About 50% is expected to be used in the next 3 years to conduct research and development to enhance their technical and credit assessment capabilities, and to develop more diversified technical solutions to respond to the changing needs of financial institutions, and to fine-tune their services and solutions.

About 40% is expected to be used in the next 3 years to further infiltrate the credit technology industry and expand the user base.

About 10% is expected to be used in the next 3 years for general corporate purposes and working capital requirements.

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