Multi-point wisdom plans to raise 3.89 billion Hong Kong dollars through a phased approach of selling old shares before issuing new shares.

According to an announcement released by the Hong Kong Stock Exchange on Wednesday evening, Duodpoint Intelligence has agreed to issue and allocate 35.4 million shares in a rights issue with a subscription price of HK$11.1 per share. The net proceeds are expected to be approximately HK$389 million, which will be used for stablecoin and blockchain research and development investment, technology enhancement, and general corporate purposes. The subscription price represents a discount of approximately 10% from the closing price on July 15. The subscription shares will account for approximately 3.78% of the enlarged issued share capital, and trading of the stock will resume on July 17.