Hong Kong listed company DL Holdings plans to raise approximately $83 million to布局 Blockchain business.

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On August 7, according to The Block, Hong Kong-listed financial services group DL Holdings saw its stock price fall by more than 8% on Thursday, after the company announced plans to raise HKD 653.3 million (approximately USD 83.2 million) through a rights issue to fund its Blockchain business development. According to documents submitted by the company to the Hong Kong Stock Exchange, DL Holdings has signed a placement and subscription agreement, whereby selling shareholders will sell shares to at least six buyers through the placement agent at a price of HKD 2.95 per share, and then immediately repurchase an equal number of new shares from the company at the same price. The shares being placed account for approximately 13.58% of the company's current issued share capital, and this proportion will decrease to about 11.96% after the new share issuance is completed.

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