China Financial Leasing Group to Raise $11M for Crypto Investment

Group 1 - China Financial Leasing Group plans to raise approximately 86.5 million Hong Kong dollars (11.1 million USD) to build a cryptocurrency investment platform [1] - The capital will be raised through a new share subscription, issuing over 69 million new shares at a price of 1.25 Hong Kong dollars each [1] - Approximately 94% of the net proceeds will be allocated for investment in securities across various sectors, focusing on the crypto and blockchain industries and artificial intelligence (AI) [2] Group 2 - The company aims to establish a crypto and AI digital asset investment platform [2] - Hong Kong is advancing its regulation of the crypto industry, with plans to oversee exchanges, custodians, stablecoins, and other digital asset service providers [3] - Following the announcement, China Financial's stock price increased by approximately 34%, closing at 1.72 Hong Kong dollars, while the Hang Seng Index closed 0.67% lower [3]