Nasdaq listed in the Hong Kong construction firm Ming Shing Group Holdings said Wednesday entered an agreement to get 4,250 Bitcoin to nearly $ 483 million, joining the wave of companies that add cryptocurrency to their wealth.
If successful, the Deal Ming Hong Kong’s Top Bitcoin will doBtc) Treasury according to bitcointreasuries.net Data.
“We believe that the Bitcoin market is quite liquid and the investment can get the potential appreciation of Bitcoin and increase the ownership of the company,” said Wenjin Li, CEO of Ming Shing.
Ming Shing’s financials show that it was under pressure, with a negative income margin of -3.9% in 2025 and a $ 5.35 million loss before interest and tax, According to in stock review data.
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Ming Shing will not pay cash for BTC. Instead, it plans to issue a 10-year issue, 3% replaced notes (replaceable for $ 1.20/share) and 12-year warrants covering a total of 402,467,916 shares (can be used at $ 1.25/share).
Two companies based in the Virgin Islands are involved. The Winning Mission Group sells 4,250 BTC and will receive a $ 241,480,750 replaced records with a warrant for the 201,233,958 shares. The Rich Plenty Investment will receive the same package from Ming Shing and issue a promissory note on the winning mission for 2,125 BTCs.
Massive potential dilution for shareholders
The structure can be strongly the dangers of Ming Shing’s existing shareholders. The company currently has fewer than 13 million shares Outstanding. If the convertible notes are conducted but the warrants remain unspecified, the share shares jump to more than 415 million, leaving current shareholders with about 3.1% owner.
In a worst case situation-if all notes, warrants and accumulated interests are converted-Ming Shing’s shares can rise to nearly 939 million, reducing current holders to almost 1.4% ownership. The transaction also depends on the approved shareholder to allow more shares, as the company currently has only 100 million Authorized.
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According to In Google Finance Data, Ming Shing Stock clearly spits on the news, despite trading for a longer period of time. The company’s stock faced steep decline in the last year, losing 70.5% value, including a 44% collapse over the last month and 24% in the past five days.
The initial price movement reached $ 2.15 on Wednesday, but most gains were lost on the same day. However, at Ming Ching’s current price of $ 1.65, the stock was about 11.5% until Thursday.
Hong Kong pushes deeper into crypto
The announcement came as Hong Kong continues to push it to become a digital asset hub. Regulators Approved Bitcoin and Ether Exchange Fund In April 2024 and Issued the first crypto asset service provider licenses Earlier this year.
In February, the Securities and Futures Commission (SFC) Introduced “Aspire” Roadmap To guide local regulation. Earlier this month, the SFC An ordinance ended with Stablecoin The criminalization of unlucky issues and released new guidance in caution For crypto companies.
This week’s reports also indicate that CMB International Securities, a subsidiary of one of China’s leading banks, began offers virtual trading virtual assets in Hong Kong.
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