Hong Kong-Listed Company China Financial Leasing Group (2312) says it plans to travel around 86.5 million Hong Kong Dollars ($ 11.1 million) from which it will build a cryptocurrency investment platform.
China Financial will raise capital through a new stock subscription and issue over 69 million new shares at a price of 1.25 Hong Kong Dollars each, according to a filing at Hong Kong Stock Exchange.
About 94% of the net proceeds from the increase will be used for investment in securities in company in various sectors focusing on the crypto and blockchain industry and artificial intelligence (AI).
The company added that it intends to focus on “establishing a Crypto and AI Digital Asset Investment Platform”, in the announcement on Sunday.
Hong Kong has been at the forefront of jurisdictions that promote their regulation of the crypto industry, after establishing plans in June to set up a regime to oversee exchanges, custodians, stablecoins and other digital asset service providers.
China Financial jumped around 34% Monday and closed at 1.72 Hong Kong Dollars compared to the Hang Bed index, which closed 0.67% lower.
