Hong Kong’s Ming Shing Group To Become 16th-Largest Corporate Bitcoin Holder With $483M Purchase
Hong Kong-based construction giant Ming Shing Group is set to become the 16th-largest corporate Bitcoin holder globally after agreeing to buy 4,250 BTC worth $482.9 million. The BTC will be acquired from British Virgin Islands–registered Winning Mission Group at an average price of $113,638 through convertible promissory notes and stock warrants instead of cash, reflecting Ming Shing’s long-term strategy to enhance shareholder value through digital assets. If the deal closes as planned by Dec. 31, the company’s holdings would rise to 5,083 BTC, making it the 16th-largest corporate Bitcoin holder globally based on today’s rival holdings. The announcement sent the company’s shares soaring more than 11% before after-hours profit-taking trimmed gains. Ming Shing Group share price (Source: Google Finance ) Ming Shing Group To Issue Convertible Promissory Notes And Stock Warrants Promissory notes are a type of IOU that can later be turned into co...