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

Odaily Planet Daily Xundelin Holdings (01709.HK) announced that it has signed a placement and subscription agreement with DA Wolf and other parties, and a special authorization subscription agreement with DA Wolf Investment I Limited. The total financing amount is expected to be approximately HK$653.3 million.

The funds will be mainly used to expand blockchain and virtual asset businesses, including: approximately 30% for strategic acquisitions and investments, and expansion of the RWA tokenization program; 15% for the development of Bitcoin mining and the establishment of Bitcoin reserves; 7% for the construction of a licensed virtual asset over-the-counter trading and retail network in Hong Kong; 8% for the development of digital assets, cryptocurrencies and stablecoin businesses; 10% for investment in the ONE Carmel high-end residential project in the United States; and another 10% each for IT facility upgrades, ETF creation and quantitative investment, and group working capital replenishment.