The Hong Kong-listed company Delin Holdings plans to raise HKD 653.3 million, focusing on the development of blockchain and virtual asset businesses

ChainCatcher news, Derin Holdings (01709.HK) announced that it has signed a placement and subscription agreement with DA Wolf and other parties, and has signed a special authorization subscription agreement with DA Wolf Investment I Limited, with a total expected financing amount of approximately HKD 653.3 million.

The funds will be primarily used to expand blockchain and virtual asset businesses, including: approximately 30% for strategic acquisitions and investments to expand the RWA tokenization program; 15% for developing Bitcoin mining and establishing Bitcoin reserves; 7% for building a licensed virtual asset over-the-counter trading and retail network in Hong Kong; 8% for developing digital assets, cryptocurrencies, and stablecoin businesses; 10% invested 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 supplementing the group's working capital.