MemeStrategy Raises HK$83.7 Million via Share Subscription to Fund Blockchain Expansion

An update from Howkingtech International Holding Limited ( (HK:2440) ) is now available.

MemeStrategy, Inc. has completed the issuance of 49,049,824 new shares under its general mandate, raising approximately US$10.82 million (about HK$84.07 million) at HK$1.714 per share, with net proceeds of around HK$83.72 million. The capital increase, representing roughly 13.33% of the company’s pre-issue share capital and 11.76% post-issue, will fund the company’s expansion into blockchain solutions and real-world asset projects, including cultural and intellectual property, while diluting the stake of its controlling shareholder Home Office Development Limited from 64.31% to 56.75% and broadening its public shareholder base through the introduction of several new institutional and individual subscribers.

More about Howkingtech International Holding Limited

MemeStrategy, Inc., incorporated in the Cayman Islands and listed in Hong Kong, operates in the digital and blockchain-related solutions space, with a strategic focus on expanding into blockchain solutions and real-world assets including cultural and intellectual property. The company’s shareholder base is led by controlling shareholder Home Office Development Limited, wholly owned by chairman and executive director Chan Chin Ching.

Average Trading Volume: 537,916

Technical Sentiment Signal: Sell

Current Market Cap: HK$754.4M

See more data about 2440 stock on TipRanks’ Stock Analysis page.