[ET Net News Agency, 22 July 2019] Colour Life Services Group Co., Limited (01778) said
the company entered into the first subscription agreement with Volga Innovation Limited
(the first subscriber). The first subscriber has agreed to subscribe 71.15 million new
shares at the subscription price of HK$5.22 per share.
The first subscription shares represent 5.08% of the company's issued share capital as
enlarged by the issue of the first subscription shares. The first subscriber is an
indirect wholly owned subsidiary of JD.com.
The company also entered into the second subscription agreement with Qifei International
Development Co. Limited (the second subscriber). The second subscriber has agreed to
subscribe 22.96 million new shares at the subscription price of HK$5.22 per share.
The second subscription shares represent 1.61% of the company's issued share capital as
enlarged by the issue of the first subscription shares and the second subscription shares.
The second subscriber is principally engaged in the investment management business.
The company intends to apply the proceeds from the subscriptions for development and
general working capital purposes. (RC)