Hong Kong Listed Company DL Holdings Plans to Raise Approximately $83 Million to Expand into the Blockchain Business

On August 7th, according to The Block, the stock price of Hong Kong-listed financial services group DL Holdings fell by more than 8% on Thursday. The company announced plans to raise 653.3 million Hong Kong dollars (approximately $83.2 million) through a rights issue to finance its blockchain business development. Based on the filings submitted to the Hong Kong Stock Exchange, DL Holdings has entered into subscription and subscription agreements. Selling shareholders will sell shares to at least six buyers at a price of 2.95 Hong Kong dollars per share through a placement agent. Subsequently, the company will immediately repurchase an equal number of new shares at the same price. The shares to be sold in this placement account for approximately 13.58% of the company's current issued share capital. After the issuance of new shares is completed, this proportion will decrease to around 11.96%.