ZhongAn Online has completed raising HK$3.9 billion

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According to Caixin.com, ZhongAn Online announced that it has completed the issuance of 215 million new H shares, raising a total of HKD 3.924 billion. The issuance price is HKD 18.25 per share, accounting for 13.15% of the H shares issued after the expansion and 12.76% of the total shares issued. Since May of this year, the stock price of ZhongAn Online has started to increase significantly, mainly benefiting from Hong Kong's new stablecoin policy and the company's 43.43% stake in ZhongAn Bank (ZA Bank). After the Hong Kong Legislative Council passed the Stable Money Bill, ZhongAn Bank immediately announced that it would become Hong Kong's first digital bank to provide exclusive reserve banking services for stablecoin issuers and collaborate with Yuanbi, one of the first entities involved in the HKMA's pilot program.

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