Empire Financial Group Plans to Raise HK$18.1 Million for Crypto Asset Licenses and Web3 Project Development and Investment

BlockBeats News, September 17, according to an announcement from the Hong Kong Stock Exchange, Empire Financial Group Limited (HK.8029) signed a placement agreement with the placing agent on September 17, 2025, planning to place up to 46.68 million new shares at a price of HK$0.388 per share, aiming to raise approximately HK$18.1 million. If all placement shares are fully subscribed, the net proceeds are estimated to be approximately HK$17.6 million. The company plans to use the net proceeds for the following purposes: (i) Approximately HK$7 million for general operating funds; (ii) Approximately HK$6 million for further development of financial services, including enhancing existing SFC licenses related to crypto asset trading and management; (iii) Approximately HK$4.6 million for the development and investment in Web 3.0 businesses and projects.