eComm 2024 Interim Report Discloses Purchase of Shares in Hong Kong Virtual Asset Exchange Limited for HK$12.9 Million

Hong Kong-listed eComm released its 2024 interim report, in which it disclosed that eComm has invested in VAX by acquiring shares in Virtual Asset Exchange Hong Kong Limited (“VAX”) for HK$12.9 million.

VAX, an unlisted company, is in the process of applying to the Securities and Futures Commission of Hong Kong for a license to conduct Type 1 (dealing in securities) and Type 7 (providing automated trading services) regulated activities under the Securities and Futures Ordinance for the purpose of regulating virtual asset trading platforms in Hong Kong. As at June 30, 2024, 165,385 shares with a carrying value of approximately HK$1,543,000 were held by the eComm Group.