UTXO Management Acquires Majority Stake In Hong Kong Asia Holdings

According to PANews, UTXO Management, in collaboration with Sora Ventures and other partners, has acquired a majority stake in Hong Kong Asia Holdings Limited, a company listed on the Hong Kong Stock Exchange (HKSE) under the ticker 1723.HK. The acquisition involves 70.26% of the issued share capital of the company. This move marks a significant turning point for Hong Kong Asia Holdings as it plans to rebrand as Moon Inc. and aims to explore cryptocurrency investments and Web3 innovations. The new leadership team intends to leverage its resources and expertise to delve into Bitcoin and cryptocurrency investments, Web3 opportunities, and other innovative projects. The company will issue convertible bonds totaling HKD 33,750,000. Upon full conversion of these bonds by the acquirer, the group's ownership stake will increase to approximately 74%.