DL Holdings Seeks $83M Blockchain Raise, Shares Plummet 8.4%

DL Holdings, a Hong Kong exchange-listed financial services group, announced plans to raise HK$653.3 million ($83.2 million) to finance its growing blockchain operations—news that set off a steep 8.4% decline in its stock price Thursday.

As per a Hong Kong Stock Exchange filing, the firm entered into a placing and subscription agreement to enable existing shareholders to sell shares at HK$2.95 each to a minimum of six external customers through approved placing agents. These customers will, in turn, be issued an equivalent number of new shares directly by DL Holdings at the same price.

New Shares to Drive Blockchain & Crypto Growth

The shares placed represent some 13.58% of the company's issued share capital at the time, a percentage that will reduce to 11.96% when new shares issued complete the transaction.

The firm insisted that funds would be invested strategically in different blockchain segments:

30% in real-world asset tokenization and strategic investment

15% in Bitcoin mining and reserves

8% in the digital asset and stablecoin business development

7% for acquiring crypto trading licenses in Hong Kong

The balance will be used to finance IT infrastructures, ETF product development, U.S. real estate investment, and general working capital.

Market Responds Quickly

DL Holdings' stock fell to HK$3.07, down 8.4%, according to Yahoo Finance data as of writing the article. The market was open during the dip.

This step captures mounting institutional appetite for blockchain adoption, with a focus on Asia, where Hong Kong's crypto-friendly regulatory environments continue to gain traction.

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