Addentax plans to raise up to $200 million through a private placement to support its AI and crypto strategy.

PANews reported on February 11 that Addentax Group announced it has signed a memorandum of understanding with two institutional investors backed by Middle Eastern royal families to raise up to $200 million through a private placement at $1.50 per share to support its AI and crypto financial services strategy. The parties plan to finalize a formal agreement within six months, subject to due diligence and regulatory approvals. If the transaction goes through, it will help the company advance its AI-driven fintech platform and compliant crypto business in the Asia-Pacific region.