Yunfeng Financial allocates and issues new shares to raise funds of approximately HK$1.17 billion to support the launch of a comprehensive virtual asset trading service

Odaily Planet Daily News Yunfeng Financial Group announced that it will allocate and issue a total of 191 million new shares in a way that will be old first and then new, with an allotment price of HK$6.1 per share, and a total of approximately HK$1.17 billion in fundraising. 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. Previously, Yunfeng Finance used US$44 million to purchase 10,000 ETH as reserve assets, and has been approved by the Hong Kong Securities Regulatory Commission to provide virtual asset trading services. The board of directors also appointed Mr. Leung Shin-jun, co-founder and executive of Fosun International, as an independent non-executive director.