International Commercial Settlement Holdings plans to raise HKD 500 million, with 90% directed towards cryptocurrency investments

According to news from Hash World, International Commercial Settlement Holdings Limited (00147.HK) announced the signing of subscription agreements with at least six professional investors, planning to issue approximately 2.782 billion new shares at a price of HKD 0.18 per share, raising a total net amount of approximately HKD 500 million. The company's announcement shows that about 90% (HKD 450 million) of the funds raised will be used for cryptocurrency investments, including mining operations, cryptocurrency trading, and computing power investments based on mining equipment, while also laying out plans in the Web3 field. Previously, the company announced an investment of HKD 70 million in a joint venture project primarily engaged in cryptocurrency-related businesses. The company stated that this fundraising will provide sufficient capital for further expansion in cryptocurrency-related businesses and other fintech projects in the near term.