Boya Interactive has signed a Stock Placement Agreement for a maximum financing of 441 million Hong Kong dollars, to be used for business development in the Web3 space.

BlockBeats News, August 21, according to an official announcement, Boyaa Interactive International Limited announced that it has entered into a placing agreement with the placing agent, intending to place up to 63,510,000 new shares at a placing price of HK$6.95 per share. The placing shares represent 8.93% of the total issued shares, or approximately 8.20% of the total issued shares after the enlargement.

The maximum total amount of funds raised for the placing is HK$441 million, with an estimated net amount of approximately HK$436 million. The funds will be used for business development in the Web3 field, including Web3 game R&D and promotion, infrastructure construction, project investment and strategic partnerships, as well as for the group's operational funds and general corporate purposes.

Boyaa Interactive has also resumed trading. As of the time of writing, Boyaa Interactive (HK:00434) is trading at HK$8, with an intraday increase of 5.68%.

In March this year, Boyaa Interactive (0434.HK) announced that its total holding of Bitcoin had increased to 3,350 coins, with an average holding price of $58,627 per coin.