New City Development has agreed to issue shares to raise approximately HKD 50 million for the RWA sector.

On September 1st, New Century Group announced on the HKEX that the company has reached an agreement to issue approximately 19 million shares to Blockchain Metaverse Academy at a price of HK$2.5845 per share. The subscribed shares account for approximately 0.27% of the enlarged issued share capital; the subscription price represents a premium of approximately 4.2% compared to the closing price of HK$2.48; the total amount raised is approximately HK$50 million. The raised funds will be utilized for strategic deployment in the Real World Asset (RWA) application field. (Jinse Finance)