JF SmartInvest (HKG:9636) completed a top-up share placement and subscription, raising about HK$772.8 million in net proceeds to support its overseas digital asset strategy, according to a Monday Hong Kong bourse filing.

Shares of the company gained nearly 4% in Tuesday's late-afternoon trade.

A total of 20 million existing shares were placed at HK$39.25 each on July 18, followed by the issuance of 20 million new shares to existing shareholders at the same price on July 28.

The company said 40% of net proceeds will fund investments in RWAs, stablecoins, and licensed digital asset platforms, while 30% will support infrastructure and service expansion in Hong Kong and the Middle East.

The rest will go toward AI-driven advisory models and working capital.