According to the Zhitong Finance App, Guangshang Culture Holdings (08082) issued an announcement. 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 development of the Group's media and entertainment business (including organizing concerts).