Hong Kong-Listed Boyaa Interactive Seeks Shareholder Approval for $100 Million Crypto Investment

Bitcoin Ethereum Hong Kong
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Jai Pratap
Author Categories
About Author

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
hong-kong
Source: Pixabay

Hong Kong-based E-gaming giant Boyaa Interactive International Limited is seeking shareholder’s approval for purchasing $100 million worth of crypto in the next 12 months.

According to an announcement from the Hong Kong Stock Exchange, the board of directors of Boyaa Interactive, a Hong Kong-listed company, stated that purchasing and holding cryptocurrency is an important measure for the group’s business layout and development in the Web3 field.

Crypto investment is also an important part of the group’s asset allocation strategy, the company said.

Boyaa Interactive Looking to Buy Bitcoin and Ethereum

As per the announcement, after thorough consideration, the board of directors has formally proposed seeking prior approval from shareholders to grant purchase authorization, empowering the board to acquire cryptocurrency within a 12-month period.

This timeframe begins from the date on which the ordinary resolution, related to both the authorization and potential cryptocurrency purchases, is duly passed by the Extraordinary General Meeting (EGM). The total purchase amount for potential cryptocurrency acquisitions within this period is capped at $100 million.

Earlier on August 11, Hong Kong-listed company Boyaa Interactive disclosed that its board of directors had greenlit a $5 million budget for the group to acquire cryptocurrencies on regulated and licensed trading platforms within the upcoming year, starting from the announcement date.

The selected currencies primarily include Bitcoin (BTC) and Ethereum (ETH). The funding sources for these cryptocurrency acquisitions stem from the cash reserves generated by the group’s operations, spanning both Hong Kong and overseas.

More Articles

Industry Talk
Whale Pulls 375B PEPE Off Binance – Is a Major Price Rebound Incoming?
Tim Hakki
Tim Hakki
2025-02-07 18:17:09
Industry Talk
$1 Billion USDT Gets Minted on TRON – Will TRX Hit $1?
Tim Hakki
Tim Hakki
2025-02-07 18:10:07
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors