TechFlow news, August 7 — According to The Block, Hong Kong-listed company DL Holdings plans to raise HK$653.3 million (approximately $83.2 million) through a share placement. As per the announcement, the company will place shares with no fewer than six investors at HK$2.95 per share, representing approximately 13.58% of the company's current issued share capital.
The proceeds will be primarily allocated as follows: 30% toward tokenization of physical assets and strategic investments, 15% for Bitcoin mining operations and reserves, 8% for digital asset and stablecoin business development, 7% for applying for a crypto-asset trading license in Hong Kong, and the remainder for IT infrastructure, ETF development, U.S. real estate investments, and working capital.
