According to PANews, Hong Kong-listed company Jiufang Zhitou has announced plans to place up to 20 million shares at a price of HKD 39.25 per share, as per a Hong Kong Stock Exchange announcement. The expected net proceeds from this placement are estimated to be HKD 746 million. The company intends to use these funds to develop on-chain financial resources and strategically invest in underlying RWA assets, digital asset exchanges, digital asset trust banks, and stablecoin operators.
Additionally, Jiufang Zhitou aims to expand its digital asset services by building a foundational structure for digital asset trading and management. The company plans to develop digital asset investment services targeting retail clients and explore new models for digital asset investment advisory. The funds will also be used to supplement working capital.
