Zhitong Financial APP was informed that Dreamland (01119) announced that on November 26, 2021, the Company entered into a placing Agreement with the placing Agent, pursuant to which the placing Agent has agreed to act as the placing Agent of the Company, prompting the Placees to purchase up to 72.28 million new shares on a best-effort basis at a placing price of HK $5.92 per placing share. The estimated net proceeds from the placing are expected to be about HK $427 million. As of 09:42, it was up 4.9% to quote HK $6.85, with a turnover of 25.5237 million.

On 28 November 2021, the Company entered into the Brilliant Seed subscription Agreement, the Tencent subscription Agreement and the Instant Sparkle subscription Agreement, pursuant to which Brilliant Seed, Tencent Mobility and Instant Sparkle have each conditionally agreed to subscribe and the Company has conditionally agreed to allot and issue 13.1419 million subscription shares, approximately 13.1419 million subscription shares and 6.5709 million subscription shares at the subscription Price of HK $5.92 per subscription share, respectively. The net proceeds from the subscription are expected to be about HK $194.5 million.

The Directors are of the view that the purpose of the placing and subscription is to strengthen the financial position of the Group and to provide long-term funding for the Group's expansion and growth plans.