TV Asia (00707.HK) announced that on the 2-for-1 proposal, the company received 16 shares of 0.141 billion shares effective on September 9, representing approximately 21.44% of the total available shares. As a result, 0.515 billion shares of common stock have not been subscribed for, representing approximately 78.56% of the total available shares, and were distributed on September 23 at a distribution price of $0.1 per share to five shareholders, including Wang Xuefei, Wu Qiuxia, Yang Lin, Zhang Hai and Mao Fu Trading.

At completion, the five shareholders' equity in the Company was 26.19%, while the Company's Executive Director Liu Minbin's shareholding was diluted from 14.01% to 9.34%; the holding in the PRC Development Zone under the banner of Mahui was diluted from 13.84% to 9.23%.

The share offering and distribution became unconditional, and the proceeds from the fund raising were approximately US$51.5 million.