According to PANews, ZhongAn Online announced the completion of a placement of 215 million new H shares, raising HKD 3.924 billion, with a placement price of HKD 18.25 per share. This placement accounts for 13.15% of the expanded issued H shares.
Since May, ZhongAn Online's stock price has risen, benefiting from the new stablecoin policy in Hong Kong and its 43.43% stake in ZhongAn Bank. ZhongAn Bank has become the first digital bank in Hong Kong to provide reserve bank services for stablecoin issuers and has collaborated with sandbox participants from the Monetary Authority.