Television Broadcasting (00511) announced that on May 13, 2024, the company entered into a Guangfa subscription agreement with Guangfa Global, planning to issue approximately 874 to Guangfa Globalwardner.380,000 Guangfa subscription shares, with HK$3.36 per Guangfa subscription share, with a net raise of approximately HK$28.5 million, which will be used for general corporate purposes, including the Group's cooperation with mainland Chinese streaming platform partnerswardnerWorking capital of the co-production drama project.
On the same day, the company entered into a Shaw Brothers Subscription Agreement with Shaw Brothers, proposing to issue approximately 20 million Shaw Brothers Subscription Shares to Shaw Brothers at a subscription price of HK$4 per share, often approximately HK$78.8 million, which will be used for general corporate purposes, including working capital for the co-production drama project of the Group and its mainland Chinese streaming platform partners.
