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Lianlian Digits Plans to Raise Approximately HKD 394 Million through Preferential Placement, for Blockchain, AI, and Other Technology Applications

By: theblockbeats.news|2025/07/13 12:36:35

BlockBeats News, July 13th. LianLian Digital (02598.HK) announced that on July 12, 2025, it entered into a placement agreement with a placement agent to privately place 38.4 million new H shares at HK$10.25 per share to no fewer than six independent professional individuals, institutions, and/or other investors.

The announcement stated that assuming full subscription of the placement shares, the total gross proceeds from the placement are expected to be approximately HK$394 million. The Company intends to use the net proceeds for innovation and application of blockchain and other innovative technologies in the global payment field, global business and license expansion, and general corporate purposes. LianLian Digital stated that this placement will help accelerate business innovation, enhance capabilities and applications in new technologies such as blockchain and AI, and expand application scenarios, strengthening its global strategic business layout.

Established in 2009, LianLian Digital is one of the first digital technology companies in China to provide comprehensive payment solutions globally. It successfully went public on the Main Board of the Hong Kong Stock Exchange on March 28, 2024, mainly offering digital payment services and value-added services.

Michael Saylor has released Bitcoin Tracker information, hinting at a potential BTC accumulation strategy.

The "Insider Trader"‘s short positions have now all turned into losses, with an overall unrealized loss of over $600,000.