MemeStrategy (HKG:2440) issued over 49 million shares to five investors at HK$1.714 apiece to raise around HK$83.7 million, a Dec. 19 Hong Kong bourse filing said.
Shares of the data transmission and processing service provider for IOT applications were down 2% in Monday afternoon trading.
The issued shares represent roughly 11.76% of the firm's enlarged issued share capital.
The company will use the proceeds to facilitate its expansion into blockchain solutions and real-world assets.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.