Fourth Paradigm plans to place 25.9 million shares to raise more than HK$1.3 billion for RWA, stablecoin and other fields

PANews reported on July 17 that the Fourth Paradigm announced on the Hong Kong Stock Exchange (before trading hours) that the company has entered into a subscription agreement with subscribers, whereby subscribers have conditionally agreed to subscribe, and the company has conditionally agreed to allot and issue a total of 25.9 million subscription shares at a subscription price of 50.50 Hong Kong dollars per share, with a total consideration of approximately 1,307,950,000 Hong Kong dollars. The announcement stated that the net proceeds from the subscription are approximately 1.30618 billion Hong Kong dollars, with 50% to be used for research and development investments in emerging fields such as embodied intelligence, smart devices, blockchain, real-world assets (RWA), and stablecoins, developing products and solutions with comprehensive artificial intelligence capabilities; 40% for global business expansion and potential mergers and acquisitions in emerging fields like embodied intelligence, smart devices, blockchain, real-world assets (RWA), and stablecoins; and 10% for general corporate purposes.