TechFlow, September 9 — According to an announcement by Hong Kong-listed company Boyaa Interactive International Limited, approximately 90% of the proceeds from its previously announced HK$440 million placement will be used to purchase Bitcoin to advance its Web3 business development, while the remaining approximately 10% will be allocated to working capital and general corporate purposes. The board believes that cryptocurrencies, particularly Bitcoin, are a key strategic asset in the Web3 industry, and early positioning with expanded reserves will significantly enhance the company's future competitive advantage.
Earlier on August 21, Boyaa Interactive proposed a share placement at an 8.19% discount to raise up to HK$440 million.
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