Ming Shing Group Holdings, a Nasdaq-listed construction firm based in Hong Kong, announced it has signed an agreement to purchase 4,250 Bitcoin for approximately $483 million, positioning itself as the holder of the largest Bitcoin treasury in the region, overtaking Buyaa Interactive International's 3,350 BTC. The CEO, Wenjin Li, expressed confidence in the liquidity of the Bitcoin market and the potential for appreciation in value. To finance the acquisition, Ming Shing plans to issue 10-year convertible notes and warrants, which could significantly dilute existing shareholder ownership. If fully converted, the existing shareholders' stake could drop to about 1.4% due to the increase in share count resulting from the notes and warrants. This move comes amid Hong Kong's broader efforts to establish itself as a digital asset hub, following regulatory advancements aimed at supporting cryptocurrency adoption.

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