HK Stock Market Move | DL HOLDINGS GP (01709) fell nearly 4% again, after a sharp drop of over 15% yesterday. It had previously announced a 11% discount on its rights issue, prioritizing existing shareholders.

DL HOLDINGS GP (01709) dropped by nearly 4%, with the stock plummeting over 15% yesterday. As of the time of writing, it fell by 3.78%, closing at 2.8 Hong Kong dollars, with a trading volume of 1.16 billion Hong Kong dollars. In terms of news, DL HOLDINGS GP recently announced plans to issue a total of 255 million shares in a rights issue, representing approximately 15.15% of the company's existing issued share capital and approximately 13.16% of the enlarged issued share capital. The shares will be offered at a price of 3.05 Hong Kong dollars per share, a discount of approximately 11.34% from the closing price of 3.44 Hong Kong dollars on October 20. The company has also entered into an agreement with subscribing party Evergreen Wealth Investment Limited to issue up to 63.803 million new shares at 3.05 Hong Kong dollars per share, representing approximately 3.18% of the enlarged issued share capital. The net proceeds totaling 956 million Hong Kong dollars will be used to expand the company's bitcoin mining and digital storage business, develop and tokenize RWA products, and make strategic and diversified investments to support expansion in digital financial, virtual asset, RWA tokenization, bitcoin mining, and related infrastructure development areas, enhance asset construction and allocation capabilities, and strengthen sources of recurring income.