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

BlockBeats News, August 7th, according to The Block, Hong Kong-listed financial services group DL Holdings saw its stock price drop by over 8% on Thursday after the company announced plans to raise 653.3 million Hong Kong dollars (approximately $83.2 million) through a rights issue to fund its blockchain business development.

Based on filings submitted to the Hong Kong Stock Exchange, DL Holdings has entered into subscription and subscription agreements, with selling shareholders selling shares to at least six buyers at a price of 2.95 Hong Kong dollars per share through a placement agent, followed by an immediate repurchase of an equal number of new shares by the company at the same price.

The shares to be sold in this placement represent approximately 13.58% of the company's current issued share capital, and after the issuance of new shares is completed, this proportion will decrease to around 11.96%.