BlockBeats News, November 25th, Newborn Technology Holdings Limited announced that the company’s board of directors plans to conduct a Bitcoin purchase plan on a public cryptocurrency exchange platform with a total amount not exceeding $5 million (approximately HK$39 million) to achieve asset diversification.
As of the announcement date, the company has completed the purchase of approximately 24.29 bitcoins at an average cost of $82,338 per bitcoin, with a total investment of approximately $2 million (approximately HK$15.6 million).
The company stated that it will choose the appropriate purchase timing based on market performance and price. As the purchased transactions are less than 5% of the total holdings, they do not currently trigger the disclosure requirements of Chapter 14 of the Hong Kong Stock Exchange listing rules. However, the company will make further disclosures if necessary.
