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According to Dongwang's report, Dexiang Real Estate (00199) announced that it has signed a placement agreement with The Reynold Lemkins Group (Asia) Limited to issue 100.8 million shares at HKD 0.70 per share. The new shares will account for 10% of the expanded share capital, raising a net amount of approximately HKD 68.76 million. It is expected that about 30% of the funds will be used to integrate into the Web3 ecosystem and promote the strategic transformation and upgrading of traditional real estate business; about 25% will be used for selective acquisition/investment in projects highly coordinated with the transformation, such as AI, digitalization, and Blockchain. The ultimate beneficial owner of the subscriber is entrepreneur Liu Haoran.

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