SCHOLAR EDU has completed the issuance of a total of 110 million subscription shares
SCHOLAR EDU has completed the issuance of 110 million subscription shares, accounting for approximately 16.30% of the expanded issued share capital. The subscription price is HKD 2.2 per share, with a net amount of approximately HKD 241 million, which will be used to enhance teaching quality, potential artificial intelligence projects, and supplement working capital
According to the announcement from SCHOLAR EDU (01769), the subscription matters will be completed on October 24, 2025, as the conditions precedent set out in the subscription agreement have been met. A total of 110 million subscription shares (equivalent to approximately 16.30% of the enlarged issued share capital of the company after the issuance and allotment of the subscription shares) have been allotted and issued to the subscribers at a subscription price of HKD 2.2 per share. The net proceeds from the subscription (after deducting expenses) of approximately HKD 241 million will be used for (i) enhancing the group's teaching quality and student learning experience, including recruiting more course developers, optimizing and enriching course content and teaching materials, renovating facilities, and purchasing teaching equipment; (ii) potential future artificial intelligence projects; and (iii) supplementing working capital and general corporate purposes to support the company's strategy
