Yunfeng Financial's shareholding, which is indirectly held by Jack Ma, raised HK$1.17 billion to support the launch of virtual asset trading and related investment management services

According to Huobi HTX, Yunfeng Financial, which is indirectly held by Jack Ma, announced that it would allocate and issue a total of 191 million new shares in a way that was old first and then new, with an allotment price of HK$6.1 per share, and raised a total of approximately HK$1.17 billion. The purpose of this placement is to expand the company's shareholders and capital base and increase the liquidity of the company's shares in the market. The amount of funds collected this time is mainly used for the Group's system facilities upgrade, talent recruitment and related capital needs, including but not limited to the launch of comprehensive virtual asset trading services and virtual asset-related investment management services.