Hong Kong builder’s stock jumps on $483M Bitcoin treasury bet
Ming Shing Group Holdings, a Nasdaq-listed Hong Kong construction company, struck a $483 million deal to acquire 4,250 Bitcoin via share issuance.
Nasdaq-listed Hong Kong construction company Ming Shing Group Holdings said on Wednesday it has agreed to acquire 4,250 Bitcoin for almost $483 million, joining the wave of companies adding cryptocurrency to their treasuries.
The deal, if completed, would make Ming Shing Hong Kong’s top Bitcoin (BTC) treasury according to BitcoinTreasuries.NET data, surpassing Buyaa Ineractive International with its 3,350 BTC.
“We believe the Bitcoin market is highly liquid and the investment can capture the potential appreciation of Bitcoin and increase the Company’s assets,” said Wenjin Li, CEO of Ming Shing.
