HK Asia Holdings raised HK$60 million in a micro-strategy, with the potential to increase its Bitcoin holdings.

HK Asia Holdings Limited ( announced the issuance of new shares and convertible bonds, aiming to raise 64,188,354 HKD after expenses, which is approximately 8.27 million USD. HK Asia Holdings currently holds 28.88 Bitcoins, and after the completion of this fundraising, it is expected to increase its Bitcoin holdings further.

Hong Kong Asia Holdings has issued new shares at 4.01 HKD.

The company will issue 3,272,000 shares to specific investors, with each share priced at HK$4.01.

The new shares account for 0.82% of the existing share capital, and 0.81% after issuance.

Hong Kong Asia Holdings issuance of zero-coupon convertible bonds

Hong Kong Asia Holdings will also issue convertible bonds with a total amount of HK$52,377,600, with an initial conversion price of HK$5, convertible into 10,475,520 shares. The relevant conditions are as follows:

Issuance Price: 100% Face Value (par issuance, i.e., no discount)

Coupon Rate: 0%

Conversion price: HK$5

Redemption conditions: If not converted or canceled, the company must redeem at 100% face value on the maturity date.

Early Redemption: The company shall not redeem in advance.

After the convertible bonds are converted, the total share capital will increase by 2.62%, and if new shares are included, it will be 2.53%.

After fundraising, it is expected to increase more Bitcoin.

The total number of shares issued by the company after conversion will increase from 400 million shares to 488 million shares. Hong Kong Asia Holdings currently holds 28.88 Bitcoins, and after this fundraising is completed, it is expected to be able to acquire more Bitcoins.

The issuance price of the new shares and the convertible bond also reveal the support and confidence of specific investors in the company.

This article discusses how HK Asia Holdings raised 60 million HKD, with the expectation to increase their Bitcoin holdings. It first appeared in Chain News ABMedia.