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Swedish listed company Fragbite Group has established a Bitcoin fund business department and completed a financing of 480,000 dollars.
According to Mars Finance, Fragbite Group announced the completion of a 5 million Swedish Krona (approximately 480,000 USD) interest-free loan financing for its newly established Bitcoin fund management department, as reported by MarketScreener. The loan can be converted into company shares, with a conversion price of 10 Swedish Krona per share, to be completed by November 30, 2028, at the latest. The company's CEO stated that this financing will provide initial liquidity for the Bitcoin fund management business, aiming to optimize the capital structure through Bitcoin. This business will invest the group’s surplus funds into Bitcoin and add a "Bitcoin/Stock" key performance indicator in the quarterly report.