Ming Shing Group to Raise $500 Million Via Convertible Notes for 4,250 BTC Acquisition

Ming Shing Group agrees to buy 4,250 BTC worth $483 million using notes and warrants instead of cash.

The transaction involves a third party that will receive half the deal value through notes and share warrants.

Ming Shing stock rises after the bitcoin deal as the company adds digital assets to its corporate treasury.

Ming Shing Group Holdings Limited has agreed to purchase 4,250 bitcoins in a non-cash deal worth $482.96 million. The Hong Kong-based construction firm disclosed the agreement with Winning Mission Group, a company registered in the British Virgin Islands.

Each bitcoin in the deal is priced at an average of $113,638. The transaction adds a large volume of digital assets to Ming Shing’s corporate holdings. The company plans to finalize the deal by December 31, 2025.

Payment Through Convertible Notes and Warrants

Instead of cash, Ming Shing will issue convertible promissory notes and stock warrants to complete the transaction. These financial instruments will go to both the original seller and a third-party assignee.

Rich Plenty Investment Limited will receive half the value of the deal. Both entities will receive a convertible note valued at over $241 million. They will also get warrants allowing them to purchase more than 200 million ordinary shares each.

The notes carry a 3% annual interest rate and mature in ten years. They can be converted into shares at $1.20 per share, subject to a 4.99% ownership cap.

Warrants and Share Conditions

Each party can exercise warrants to buy up to 201.2 million ordinary shares. The exercise price is set at $1.25 per share. The warrant term extends over 12 years. These instruments are exempt from U.S. securities registration requirements.

The structure limits how much of the company any single holder can own. This helps protect against excessive ownership concentration and maintains share distribution balance.

Company Stock and Strategic Outlook

Ming Shing’s stock (MSW) rose sharply following the announcement. It surged by 29% during the day and closed 11.5% higher at $1.65.

The company’s current bitcoin holdings total 833 BTC, according to industry data. This new acquisition marks a major increase in exposure to digital assets.

Ming Shing is among the public companies that have incorporated Bitcoin into their treasury strategies. Kindly MD recently acquired 5,743.91BTC through its wholly owned subsidiary

Ming Shing has positioned the bitcoin purchase as part of a long-term strategy. The firm sees value in bitcoin’s liquidity and potential price appreciation.

Many firms in Asia are increasingly integrating bitcoin as an asset strategy. This signifies the growing interest in digital currencies beyond the tech and finance industries.