HK Asia (HKG:1723) is looking to raise net proceeds of about HK$64.2 million from a share and convertible bond issue to eight subscribers, a Thursday Hong Kong bourse filing said.
The wholesale and retail company will allot and issue 3,272,000 shares at HK$4.01 apiece, representing 0.81% of its enlarged issued share capital.
The company will also issue nearly HK$52.4 million of non-interest-bearing convertible bonds falling due in three years to the subscribers.
The bonds are convertible into 10,475,520 shares of the company at an initial conversion price of HK$5 apiece. The shares represent roughly 2.53% of the firm's enlarged issued share capital.
The company will use proceeds from the issue for potential investment opportunities in cryptocurrency investments and Web 3.0, as well as for general working capital.
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