Delin Holdings plans to raise HK$653.3 million to focus on developing blockchain, RWA and virtual asset businesses

According to Foresight News, according to Securities Star, Delin Holdings (stock code 01709) issued an announcement that on August 7, its company, seller DA Wolf and Mr. Chen and the placing agent entered into a placing and subscription agreement. In addition, Delin Holdings has also signed a special authorized subscription agreement with subscriber DA Wolf Investment I Limited. The total amount of the estimated proceeds is approximately HK$653.3 million.

The funds will be mainly used in multiple aspects: approximately 30% are used for strategic acquisitions and/or investments, expanding the RWA tokenization program; approximately 15% are used to develop Bitcoin mining business and establishing Bitcoin reserves; approximately 7% are used to establish a licensed virtual asset over-the-counter trading and retail network in Hong Kong, and apply for and upgrade relevant compliance licenses; approximately 8% are used to develop the Group's digital assets, cryptocurrency and stablecoin businesses; approximately 10% are used to invest in ONE Carmel quality residential projects in the United States; and approximately 10% are used to upgrade information technology facilities and systems, create exchange trading funds and develop quantitative investments, and supplement the Group's working capital and daily operation support.

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