Jiufang Zhitou Holdings (09636.HK) announced on July 16, 2025, that the company, existing shareholders, and placement agents executed a placing and subscription agreement. Under this arrangement, existing shareholders will sell 20 million shares at HK$39.25 each through placement agents acting severally on a best-efforts basis. Simultaneously, existing shareholders conditionally agreed to subscribe for an equivalent number of new shares issued under general mandate at the identical price of HK$39.25 per share.

These placement shares represent approximately 4.46% of the current issued share capital and 4.27% of the enlarged capital post-subscription, assuming no other share changes occur before completion. The placement price carries significant discounts: 6.0% below the last closing price of HK$41.75, 17.0% under the five-day average closing price of HK$47.30, and 15.3% under the ten-day average of HK$46.36.

Net proceeds of roughly HK$746 million will be allocated across four strategic areas: 1. Developing on-chain financial infrastructure through investments in RWA assets, digital exchanges, trust banks, and stablecoin operators to accelerate blockchain transformation of traditional services; 2. Expanding digital asset services in Hong Kong and overseas markets like the Middle East by building trading architecture and retail-focused investment platforms; 3. Pioneering AI-driven digital asset advisory models leveraging MCN operational expertise to advance on-chain finance innovation; 4. Supplementing working capital and general corporate requirements.