YUNFENG FIN (00376) to issue 190 million new shares to expand shareholder base and enhance share liquidity.

On September 16th, YUNFENG FIN (00376) announced that the company will issue a total of 191 million new shares through a rights issue at a price of HK$6.1 per share, raising approximately HK$1.17 billion. The rights issue aims to expand the company's shareholder base, increase the company's market liquidity, and strengthen its financial position to support future business development plans. The subscription price represents approximately a 16% premium to the average closing price of the past five days and a 38% premium to the average closing price of the past ten days. The funds raised will mainly be used for upgrading the group's system facilities, recruiting talent, and meeting capital requirements for services such as launching comprehensive virtual asset trading services and virtual asset investment management services. In the future, the group will continue to promote the deep integration of traditional finance with blockchain technology, aiming to realize the development vision of "everything on the chain, connecting the world, and building a new generation Web3 financial service ecosystem".