Yunfeng Financial, in which Jack Ma holds shares indirectly, raised HKD 1.17 billion through a rights issue to support the launch of virtual asset trading and related investment management services.

GateNewsBot

2025-09-16 01:07:21

Golden Finance reports that Yunfeng Financial, in which Jack Ma has an indirect stake, announced a placement of a total of 191 million new shares in a method of old shares first and new shares later, with a placement price of HKD 6.1 per share, raising approximately HKD 1.17 billion. This placement aims to expand the company’s shareholder and capital base and increase the liquidity of the company's shares in the market. The raised funds will mainly be used for the group's system facility upgrades, talent recruitment, and related capital needs, including but not limited to the launch of comprehensive virtual asset trading services and virtual asset-related investment management services.

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