PANews reported on August 29 that according to an announcement from the Hong Kong Stock Exchange, International Commercial Clearing Holdings Limited (00147.HK) has signed a subscription agreement with no fewer than six professional investors, intending to issue approximately 2.782 billion new shares at a price of HK$0.18 per share, with an estimated net fundraising of approximately HK$500 million.

The announcement indicates that approximately 90% of the funds raised (HK$450 million) will be used to explore cryptocurrency investment opportunities, including mining, cryptocurrency trading, and investments in computing power generated by mining equipment, as well as to expand into the Web3 sector. The company previously announced a HK$70 million investment in a joint venture focused on crypto-asset-related businesses. The company stated that the funds raised will provide sufficient capital for further expansion of its cryptocurrency-related businesses and other fintech projects in the near future.