Hong Kong-listed company Jiufang Zhitou plans to raise HK$746 million through a rights issue to invest in stablecoin operators.
Powered by ChatGPTOn July 16, according to an announcement from the Hong Kong Stock Exchange, Hong Kong-listed company Jiufang Investment announced that it plans to allot up to 20 million shares at a price of HK$39.25 per share, with expected net proceeds of HK$746 million, which will be used to cultivate and develop on-chain financial resources, and strategically invest in RWA underlying assets, digital asset exchanges, digital asset trust banks, and stablecoin operators. In addition, the company also stated that it will deploy digital asset services, build the underlying architecture for digital asset transactions and asset management, develop digital asset investment services for C-end customers, explore new models of digital asset investment advisors, and supplement working capital. [PANews]