Dexiang Real Estate Introduces Strategic Investment from Wu Jiezhuang, Chairman of Summit Group, Aimed at Web 3 Transition

Techub News, according to an announcement on the Hong Kong Stock Exchange, Deson Development International Limited plans to place 11.5 million new shares to Dr. Ng Kit Chong, Chairman of the Peak Group, at HK$1.14 per share, and place 130 million new shares to its existing strategic shareholder, The Reynold Lemkins Group (Asia), at the same price. The company will also issue 180 million non-listed warrants to The Reynold Lemkins Group, with an initial exercise price of HK$1.704 per share. If all the relevant warrants are exercised, The Reynold Lemkins Group's shareholding may increase to 30.90%, potentially triggering a mandatory general offer obligation under the Takeovers Code.

The core use of this fundraising is directed towards the transformation of traditional real estate business  Web3  and the layout of asset digitization (RWA). The company simultaneously announced that, after a brief trading suspension on January 20, trading of its shares resumed at 9:00 a.m. on January 21.