Ming Shing Group Holdings Limited, a Hong Kong-based construction company, has announced plans to acquire 4,250 bitcoins through a non-cash transaction valued at $482.96 million. The deal involves issuing convertible promissory notes and stock warrants, with completion expected by December 31, 2025. The notes, which carry a 3% annual interest rate, mature in ten years and are convertible into shares at $1.20 each. Additionally, the warrants allow the purchase of up to 201.2 million ordinary shares at $1.25 per share over a 12-year term.
Following the announcement, Ming Shing's stock experienced a significant increase, highlighting the company's strategic initiative to bolster its digital asset portfolio. This move aligns with a growing trend among Asian companies to incorporate bitcoin into their asset management strategies.
Ming Shing Group to Acquire 4,250 BTC via $500M Convertible Notes
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