ZhongAn Online completes 3.90 billion Hong Kong dollar placement, its business may benefit from Hong Kong stablecoin new policy
2025-07-05 02:38:00
According to Caixin, ZhongAn Online announced the completion of the placement of a total of 215 million new H shares, raising a total of 3.924 billion Hong Kong dollars. The allocation price is 18.25 Hong Kong dollars per share, accounting for 13.15% of the enlarged H shares issued and 12.76% of the total number of issued shares. Since May this year, ZhongAn Online's share price has begun to rise significantly, which is mainly benefited from Hong Kong's new stablecoin policy and its 43.43% stake in ZhongAn Bank (ZA Bank). After the Hong Kong Legislative Council passed the Stablecoin Bill, ZhongAn Bank immediately announced that it will become the first digital bank in Hong Kong to provide exclusive reserve banking services for stablecoin issuers, and cooperate with the yuan coin, one of the first sandbox participants of the HKMA.
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