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 Hong Kong-listed company Fourth Paradigm announced on the Hong Kong Stock Exchange today (before the trading hours of the Hong Kong Stock Exchange) that the company has entered into a subscription agreement with the subscriber, pursuant to which the subscriber has conditionally agreed to subscribe and the company has conditionally agreed to allot and issue a total of 25.9 million subscription shares, with a subscription price of HK$50.50 per share, for a total consideration of approximately HK$1,307,950,000. The announcement stated that the net proceeds from the subscription were approximately HK$1,306.18 million, 50% of which was used for R&D investment in products and solutions with full-range artificial intelligence capabilities in emerging fields such as embodied intelligence, smart devices, blockchain, real-world assets (RWA) and stablecoins; 40% was used for global business expansion and potential mergers and acquisitions in emerging fields such as embodied intelligence, smart devices, blockchain, real-world assets (RWA) and stablecoins; and 10% was used for general corporate purposes.