Yunfeng Financial placed 190 million new shares, and its stock price fell by more than 12% during the trading session.
On September 16th, Hong Kong-listed company Yunfeng Financial issued a total of 191 million new shares through a placement at a price of HK$6.1 per share, raising approximately HK$1.17 billion. The purpose of this placement is to expand the company's shareholder base and capital base, as well as increase the liquidity of the company's shares in the market. The funds raised will mainly be used for upgrading the company's system facilities, recruiting talent, and meeting related capital requirements, including but not limited to launching comprehensive virtual asset trading services and virtual asset-related investment management services.
According to market information, Yunfeng Financial opened low and continued to decline, falling more than 12% during the trading day, and is currently trading at HK$6.43. Earlier reports stated that Yunfeng Financial announced that its wholly-owned securities subsidiary, Yunfeng Securities Limited, has been approved by the Hong Kong Securities and Futures Commission to provide virtual asset trading services.
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