Boyaa Interactive: 90% of the proceeds from the previous HKD 440 million placement plan will be used to purchase Bitcoin

According to ChainCatcher news, the Hong Kong-listed company Boyaa Interactive International Limited announced that approximately 90% of the proceeds from the previously announced HKD 440 million placement plan will be used to purchase Bitcoin to promote the development of its Web3 business, while the remaining approximately 10% will be used for operating funds and general corporate purposes.

The board believes that cryptocurrencies, especially Bitcoin, are important strategic resources for the Web3 industry, and early layout and expansion of reserves will have a significant impact on the company's future competitive advantage. Previously, on August 21, it was reported that Boyaa Interactive planned to raise up to HKD 440 million through a placement at a discount of 8.19%.