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Hong Kong-listed Company to Raise Approximately HKD 99.72 Million through Rights Issue to Expand International Commercial Digital Technology Business, with Approximately 20.06% of the Funds Allocated to Deploy Virtual Asset Service Business
By: theblockbeats.news|2025/11/20 19:45:56
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BlockBeats News, November 20th. According to ChainNews, Hong Kong-listed company International Business Digital Technology (01782.HK) announced that on November 20, 2025, the company intends to sell up to 28 million shares of its shares through a placement agent at a price of HK$3.60 per share, representing a discount of approximately 8.86% from the closing price of HK$3.95 per share reported by the Exchange on the date of the placement agreement.
The maximum expected net proceeds from the placement are HK$99.72 million. Approximately 65.18% will be used to develop three new technologies, expected to enable the company to provide innovative products and services to customers in the APM business unit, with full utilization expected by December 31, 2027. Approximately 20.06% will be used to support the company in deploying virtual asset service business in overseas markets in a timely and orderly manner after obtaining the necessary regulatory approvals, and when expansion opportunities arise, with full utilization expected by December 31, 2027. Approximately 14.76% will be used for the group's general working capital, with full utilization expected by December 31, 2027.
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