Xincheng Group issues approximately 19 million shares to Blockchain Metaverse Academy

According to Jinshi data, Xincheng Group announced on the Hong Kong Stock Exchange that the company agreed to issue approximately 19 million shares to Blockchain Metaverse Academy at a price of HK$2.5845 per share. The subscribed shares account for approximately 0.27% of the expanded issued share capital. The subscription price is about 4.2% premium to the closing price of HK$2.48, and the total proceeds are about HK$50 million. The funds raised will be used for strategic deployment in real-world assets (RWA) applications.