Hong Kong Asia Holdings plans to raise HK$65.4983 million to explore opportunities for cryptocurrency investment and Web3

PANews reported on April 24 that according to AASTOCKS, Hong Kong Asia Holdings (01723.HK) announced that it will allocate up to 3.272 million new shares, equivalent to 0.81% of the expanded share capital; the allocated price is HK$4.01, a discount of 19.8% from the closing price of the previous trading day (23rd). The company will also issue convertible notes with a total principal amount of HK$5,237.76, with a term of three years and no interest. Calculated at the initial conversion price of RMB 5 per convertible share, the total conversion shares to be allocated and issued due to the full exercise of the conversion rights attached to the convertible notes is 10.4755 million shares, equivalent to approximately 2.53% of the expanded share capital. The above-mentioned allotment of new shares and issuance of convertible notes, raised a total of HK$65.4983 million and a net income of HK$64.1883 million, which is intended to be used as general working capital; and to seize potential investment opportunities that may arise in the future, explore opportunities for cryptocurrency investment and Web 3.0, or acquire digital assets such as Bitcoin.