DOMAINE POWER (00442) announced on November 12, 2025, that the company entered into a share purchase agreement with seller Dr. So Shu-fai to acquire approximately 5.56% of VAX Limited's issued share capital for HK$100 million (subject to price adjustments).

The consideration will be settled through a combination of HK$24 million in cash (from internal resources generated by a rights issue) and HK$76 million via the issuance of convertible bonds.

VAX Limited operates a licensed virtual asset trading platform (VATP) under Hong Kong's Securities and Futures Ordinance, holding licenses for Type 1 (dealing in securities) and Type 7 (automated trading services) regulated activities (Central No. BPW549). It is also authorized under anti-money laundering regulations to provide virtual asset services.

Concurrently, the company signed a convertible bond subscription agreement with the seller for HK$76 million. This acquisition enables DOMAINE POWER to explore blockchain-powered asset tokenization opportunities, particularly for real-world assets (RWA) including physical gold, commodities, jewelry, and precious metals.

Given recent regulatory developments in Hong Kong and globally, the group recognizes significant potential in virtual assets, which could create synergies with its existing jewelry business and membership programs. The investment provides a regulated trading platform for potential future RWA issuances through VAX Limited.