Guangshang Culture Holdings (08082) announced that all conditions of the subscription agreement have been met. On the date of this announcement, the allocation and issuance of 419 million subscription shares to subscribers was completed in accordance with the terms and conditions of the subscription agreement.
The net proceeds from the issuance of subscription shares (after deducting all related costs and expenses) will be approximately HK$14.96 million, intended for the Group's media and entertainment business development (including concert planning).