01865.HK announced that on the date of the announcement, a total of 184 million subscription shares have been allotted and issued to the subscribers in accordance with the terms and conditions of the subscription Agreement (i.e. 138 million subscription shares and 46 million subscription shares have been allotted and issued to subscribers An and B respectively).
The total proceeds from the subscription is about HK $87.4 million. The net proceeds from the subscription is about HK $87 million. The company intends to use the net proceeds to develop the business, future investment funds and general working capital of the joint venture company of the Group and to repay the liabilities of the Group.