HK Stock Market Move | STARCOIN GROUP (00399) rose more than 17% during trading and is discussing a merger with the Nasdaq SPAC company. The company plans to go public in the United States.

STARCOIN GROUP (00399) surged more than 17% intraday, and at the time of writing, it was up 7.69%, trading at HK$0.28, with a turnover of HK$16.58 million. On the news front, STARCOIN GROUP announced that it is in discussions with Nasdaq SPAC company Newbridge regarding a potential merger transaction. The Board believes that if the potential transaction is completed, it will represent a significant strategic milestone for the Group. The merger transaction with a Nasdaq-listed Special Purpose Acquisition Company will provide the Group with a pathway to enter the U.S. capital markets to support business development and value-enhancing fundraising initiatives. The successful completion of the potential transaction also signifies affirmation of the Group's business model, development strategy, and market potential, thereby unlocking the Group's intrinsic value.