ITC Properties Raises HK$161 Million via Share Issues to Fund Web3-Focused Transformation

ITC Properties Group Limited ( (HK:0199) ) just unveiled an update.

ITC Properties Group Limited has announced two share subscription arrangements raising gross proceeds of about HK$161.31 million to support its strategic shift toward Web3 integration and new investment projects. Under a general mandate, the company will issue 11.5 million new shares, representing about 1.14% of its existing share capital, to an independent subscriber at HK$1.14 per share, a discount to recent market prices, with the shares locked up until December 2026 and proceeds earmarked for Web3-driven transformation of its traditional real estate business and general working capital. In a connected transaction under a specific mandate, ITC will also issue 130 million new shares, about 12.9% of current share capital, to connected party RL at the same price and lock-up terms, with net proceeds of roughly HK$147.2 million designated for asset-oriented investments, project incubation, Web3 application-layer expansion and asset enablement, and general working capital, signaling a capital-intensive pivot towards digital asset-focused growth initiatives.

The most recent analyst rating on (HK:0199) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on ITC Properties Group Limited stock, see the HK:0199 Stock Forecast page.

More about ITC Properties Group Limited

ITC Properties Group Limited is a Hong Kong-listed company traditionally engaged in real estate-related businesses, now seeking to transform and upgrade its operations by integrating its property activities with the emerging Web3 ecosystem and pursuing asset-oriented investments and project incubation initiatives.

Average Trading Volume: 4,960,409

Technical Sentiment Signal: Buy

Current Market Cap: HK$1.36B

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