HONG KONG, June 28, 2022 /PRNewswire/ -- NOIZChain Limited ("NOIZ"), a Blockchain-as-a-Service (''BaaS'') company, has received support from GEM listed Merdeka Financial Group Limited (Stock code: 8163) ("Merdeka") and Main Board listed Oriental Watch Holdings Limited (Stock code: 0398) ("Oriental Watch") as the listed companies look to invest in its future performance.
On 14 June, NOIZ announced it had reached a conditional agreement on the sale of the entire issued share capital to Merdeka. Subsequent to the recent acquisition, Merdeka announced on 17 June the subscription of new shares by Oriental Watch. The subscription shares represent approximately 3.09% of the existing issued shares of Merdeka and the net proceeds after deducting relevant expenses are expected to be approximately HK$3 million, which is intended to be used as the general working capital of NOIZ.
With the support it received from Merdeka and Oriental Watch, NOIZ will continue to invest in the growth goals the company had identified pre-acquisition, focusing on becoming a universal blockchain platform provider for every business that offers easy blockchain infrastructure set-up and ongoing support with scalable and sustainable business models.
NOIZ principally engages in (i) provision of a private blockchain as an infrastructure technology and on-going support of all core value transactions and applications for businesses; (ii) design and build realistic Metaverses for enterprises to connect reality and the virtual world; and (iii) creation and issuance of smart contracts for corporate and individual clients on environmental-friendly blockchain (''NOIZ Green Chain'').
Andy Ann, the Chief Executive Officer of NOIZ, said, ''NOIZ aims to popularise adoption and commercialisation of blockchain technology for every business and to empower enterprises to embrace Web3.0 environmentally. We are glad that NOIZ gained the recognition and substantial support from prominent listed companies like Merdeka and Oriental Watch. It shows NOIZ's growth potential and will accelerate our business development to capture the potential growth of the booming of FinTech and blockchain technology application.''
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