Shares of Innodata (INOD) surged 7.38% in the pre-market session on Wednesday, buoyed by Brainhole Technology's move to increase its stake in the company.
Brainhole Technology, a semiconductor manufacturer based in Hong Kong, acquired an additional 26,300 shares in Innodata for around $1.5 million, according to a regulatory filing. The purchase was funded by selling 66,800 American depositary shares in KE Holdings for $1.4 million.
Brainhole's continued investment in Innodata has bolstered investor confidence in the company's prospects, fueling speculation about potential future collaborations or strategic partnerships between the two firms.
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