Coolpad Group plans to acquire up to $28 million of listed securities related to the U.S. crypto asset industry

Coolpad Group (02369) announced that in early May 2024, the company adopted an investment plan, according to which the group can acquire up to US$28 million (equivalent to approximately HK$219 million) of listed securities listed in the United States and related to the crypto asset industry through open market transactions. In addition, between April 16, 2024 and May 8, 2024 (Eastern Standard Time), Digital Tech (a direct wholly-owned subsidiary of the company) acquired a total of 1.5 million CLSK shares at a total price of approximately US$23.84 million (equivalent to approximately HK$186 million) (excluding stamp duty and related expenses), equivalent to approximately US$15.89 (equivalent to approximately HK$124.26) per CLSK share. Between April 19, 2024 and May 8, 2024 (Eastern Standard Time), Digital Tech acquired a total of 113,000 IBIT shares at a total cost of approximately US$4.03 million (equivalent to approximately HK$31.51 million) (excluding stamp duty and related expenses), equivalent to approximately US$35.64 (equivalent to approximately HK$278.70) per IBIT share. The announcement stated that the group is actively seeking opportunities to enter the digital currency field. After considering the main business, future prospects and development potential of CLSK and IBIT, the directors believe that the acquisitions are opportunities for the group to acquire attractive investments, which can increase investment returns and allow the group to expand the digital currency industry. (Zhitong Finance Network)