Hong Kong construction company buys 4.250 BTC in $483 million deal
- Ming Shing Invests Nearly $500 Million in Bitcoin
- Construction company shares soar after purchase announcement
- Billion-dollar deal highlights corporate adoption of cryptocurrencies
Ming Shing Group Holdings Limited, a Nasdaq-listed construction company based in Hong Kong, announced on Wednesday a large deal to acquire 4.250 bitcoins. The transaction, valued at approximately $482,9 million, will be carried out with Winning Mission Group, based in the British Virgin Islands.
According to the announcement, the average purchase price was set at $113.638 per BTC. The transaction is expected to close by the end of the year. Rather than a cash payment, the company opted to issue convertible promissory notes and share warrants to the seller.
The transaction also involves Rich Plenty Investment Limited, which will receive half of the total amount. Both Rich Plenty Investment Limited and Winning Mission will be entitled to convertible notes worth over $241 million each, as well as warrants allowing them to purchase over 200 million Ming Shing shares.
Wenjin Li, CEO of the construction company, highlighted the strategic objectives of the decision. "We believe the Bitcoin market is highly liquid and that the investment can capture Bitcoin's potential appreciation and increase the company's assets. We are dedicated to creating additional value for our shareholders and actively exploring options for the company's future growth," he stated.
The market reaction was immediate. Ming Shing shares, trading under the ticker MSW, rose nearly 30% after the announcement before losing some momentum. Even so, the stock closed the session up 11,5%, trading at US$1,65.
The initiative reinforces the movement of traditional corporations towards cryptocurrencies, consolidating Bitcoin as an asset increasingly present in business expansion and diversification strategies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum undergoes "Fusaka upgrade" to further "scale and improve efficiency," strengthening on-chain settlement capabilities
Ethereum has activated the key "Fusaka" upgrade, increasing Layer-2 data capacity eightfold through PeerDAS technology. Combined with the BPO fork mechanism and the blob base price mechanism, this upgrade is expected to significantly reduce Layer-2 operating costs and ensure the network’s long-term economic sustainability.

Down 1/3 in the first minute after opening, halved in 26 minutes, "Trump concept" dumped by the market
Cryptocurrency projects related to the Trump family were once market favorites, but are now experiencing a dramatic collapse in trust.

Can the Federal Reserve win the battle to defend its independence? Powell's reappointment may be the key to victory or defeat
Bank of America believes that there is little to fear if Trump nominates a new Federal Reserve Chair, as the White House's ability to exert pressure will be significantly limited if Powell remains as a board member. In addition, a more hawkish committee would leave a Chair seeking to accommodate Trump's hopes for rate cuts with no room to maneuver.

From panic to reversal: BTC rises above $93,000 again, has a structural turning point arrived?
BTC has strongly returned to $93,000. Although there appears to be no direct positive catalyst, in reality, four macro factors are resonating simultaneously to trigger a potential structural turning point: expectations of interest rate cuts, improving liquidity, political transitions, and the loosening stance of traditional institutions.

