Hong Kong’s Reitar Logtech Holdings Limited (RITR) Plans $1.5B Bitcoin Acquisition to Strengthen Reserves

In a regulatory filing on Monday, Hong Kong-based Reitar Logtech Holdings Limited (NASDAQ:RITR) revealed it is in talks to potentially acquire up to $1.5 billion worth of bitcoin. The move is aimed at diversifying its treasury assets and supporting its global expansion in logistics technology.

Hong Kong’s Reitar Logtech Holdings Limited (RITR) Plans $1.5B Bitcoin Acquisition to Strengthen Reserves

Reitar Logtech Holdings Limited (NASDAQ:RITR) said it is in advanced discussions with a group of institutional investors and wealthy individuals with expertise in digital assets. Under the proposed “BTC Program,” the company would obtain the right to buy bitcoin from this consortium in return for issuing its ordinary shares.

The number of shares would be determined based on the average market prices of both bitcoin and the company’s stock at the time of the deal.

According to the filing, the plan involves acquiring around 15,000 bitcoins, based on an illustrative price of $100,000 per coin. Reitar Logtech Holdings Limited (NASDAQ:RITR)’s management noted that the strategy is intended to strengthen the firm’s financial position while continuing to focus on growth in logistics technology.

The company highlighted potential advantages such as improved financial stability through a non-correlated asset, greater flexibility for future tech acquisitions, and stronger positioning in Asia’s rapidly growing smart logistics sector.

John Chan, Chairman and Chief Executive Officer of Reitar Logtech Holdings Limited (NASDAQ:RITR), made the following comment:

“This strategic treasury diversification initiative underscores our commitment to maintaining a strong financial foundation while scaling our global logistics technology platform.”

RITR closed over 41% higher on June 2.

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