On July 13, Lian Lian Digital (02598.HK) issued an announcement, entering into a placing agreement with a placing agent on July 12, 2025, planning to place 38.4 million new H shares at HK$10.25 per share to at least six independent professional individuals, institutions, and/or other investors.
The announcement indicates that assuming all placing shares are fully placed, the total proceeds from the placing are estimated to be approximately HK$394 million. The net proceeds are intended to be used for innovation and application of blockchain and other innovative technologies in global payment fields, global business and license expansion, and general corporate purposes. Lian Lian Digital stated that this placing will help the company accelerate business innovation and enhance capabilities in new technologies such as blockchain and AI, as well as expand application scenarios, thereby strengthening its global strategic business layout.
Established in 2009, Lian Lian Digital is one of the Chinese companies that pioneered providing comprehensive payment solutions globally. It successfully listed on the main board of the Hong Kong Stock Exchange on March 28, 2024, primarily offering digital payment services and value-added services.
