Fullshare Holdings Limited announced that it has entered into agreement for a private placement of 1,970,000,000 shares at an issue price of HKD 0.11 per share for gross proceeds of HKD 216,700,000 on July 29, 2022. The transaction will include participation from Mr. Jiang Xiao Heng Jason. The company will funding in tranches, where the company will receive HKD 108,350,000 in its first tranche on or before August 26, 2022 and where the company will receive HKD 108,350,000 on or before September 26, 2022 in second tranche closing. The securities to be issued will have a hold period of 6 months. The transaction was approved by the board of directors of the company.