ZhongAn Online Announces Completion of HKD 3.9 Billion Placement

According to Caixin.com, ZhongAn Online announced that it has completed the placement of 215.00 million new H shares, raising a total of HK$3,924.00 million. The placement price was HK$18.25 per share, accounting for 13.15% of the enlarged issued H shares and 12.76% of the total issued shares. Prior to this news, after the Hong Kong Legislative Council passed the "Stablecoin Bill," ZA Bank immediately announced that it would become the first digital bank in Hong Kong to provide exclusive reserve banking services to stablecoin issuers, and is cooperating with Circle, one of the first sandbox participants of the Hong Kong Monetary Authority. [ChainCatcher]