Sammy Holdings (00756) announced that all the prerequisites set out in the subscription agreement had been met and the subscription was completed on October 16, 2023. Upon completion, 1.1235 billion subscription shares have been issued to subscribers at the subscription price of HK $0.067 per subscription share.
After deducting related fees and expenses, the total net income from the share subscription is approximately HK $74.71 million. The company intends to use the net proceeds from the subscription to repay the debts of the Group and to use it as the general working capital of the Group.