Commencement of Business operations by subsidiary companies.
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Awaiting price reaction for this filing.
String Metaverse has announced that three of its subsidiaries have started or will start business operations as part of the group's strategic expansion into Web3 and blockchain. Two subsidiaries — String De-PIN & AI and String Digital Assets, based in Ras Al-Khaimah, UAE — have commenced operations, focusing on decentralized physical infrastructure (DePIN), AI algorithms, blockchain nodes, and centralized digital asset treasury management. A third subsidiary, String Digi Tech Pte Ltd in Singapore, is set to begin operations in Q2 FY2025-26, targeting Web3 advertising networks and blockchain validation infrastructure. No financial figures, revenue targets, or capital commitments have been disclosed in this filing.
This is an operational update showing the group's expansion into AI, blockchain, and digital asset businesses, but with no revenue figures or financial guidance provided, the immediate impact on shareholders or stock price is likely limited.