Dexiang Real Estate has raised approximately 70.56 million yuan through a placement at a discount of over 16%, with about 30% allocated to support integration into the Web3 ecosystem for strategic transformation and upgrades

Deyang Real Estate (00199) announced the issuance of 100.8 million shares to The Reynold Lemkins Group (Asia) Limited, accounting for 10% of the total issued shares after expansion. The subscription price is 0.7 HKD per share, representing a discount of 16.67% compared to the last trading day's closing price of 0.84 HKD before the suspension, raising 70.56 million HKD, with a net amount of 68.76 million HKD.

Of the net proceeds, (i) approximately 30% will be used to support the group's strategic transformation and upgrade of its traditional real estate business through integration into the Web3 ecosystem; (ii) approximately 25% will be used for selective acquisitions or investments in enterprises and projects that are highly synergistic with the group's strategic transformation, to enhance the group's capabilities in artificial intelligence, digitalization, blockchain, and other beneficial areas; (iii) approximately 25% will be used to expand strategic partnerships and regional market coverage; and (iv) approximately 20% will be used for general working capital. Deyang Real Estate resumed trading this morning. The ultimate beneficial owner of the subscriber is entrepreneur Liu Haoran.