Hydoo International Holding Limited (SEHK:1396) announced that it has entered into a subscription agreement with investors to issue 522,510,000 subscription shares at an issue price of HKD 0.450 per share for the gross proceeds of HKD 235,129,500 on June 4, 2020. The subscription shares represent approximately 13.01% of the existing issued share capital of the company and approximately 11.52% of the issued share capital of the company. The transaction will include participation from two new investors, a Hong Kong resident for 449,198,000 shares, for proceeds of HKD 202,139,100 and for 9.90% stake and a company incorporated in British Virgin Islands for 73,312,000 shares, for proceeds of 32,990,400 and for the stake of 1.62% in the company. The transaction is subject to approval from board of directors and The Stock Exchange of Hong Kong Limited. The transaction is expected to close on fifth business day, after the fulfilment of the conditions precedent, or any other date as agreed by the parties to the respective subscription agreement in writing. The shares issued in the transaction will have a hold period of 12 months. Post the closing, the share of the company will increase from 4,014,844,000 shares to 4,537,354,000 shares.