Poly Culture Group Corporation Limited (SEHK:3636) announced that it has entered into the share subscription agreements for a private placement of up to 59,209,300 H shares at a price of HKD 18.30 per share for gross proceeds of HKD 1,083,530,190 on May 8, 2017. New investors Bright Hero Global Limited will subscribe for up to 14,783,800 shares, AVICT Global Holdings Limited will subscribe for up to 8,196,700 shares, Hangzhou Dinghai Investment Management Limited will subscribe for up to 1,921,100 shares, Diamond Global Limited will subscribe for up to 10,036,000 shares, Golden Power Investments Limited will subscribe for up to 17,181,700 shares, Sun Oriental Limited will subscribe for up to 3,194,800 shares, Zhang Yixiu will subscribe for up to 1,112,900 shares, and New Moon Investment Limited will subscribe for up to 2,782,300 shares. The shares acquired by Bright Hero Global Limited, AVICT Global Holdings Limited, Hangzhou Dinghai Investment Management Limited and New Moon Investment Limited are subject to six months lock period and shares acquired by Diamond Global Limited, Golden Power Investments Limited, Sun Oriental Limited, and Zhang Yixiu are subject two years. The H shares to be issued represent approximately 24.04% of the total number of issued shares and 66.19% of the total number of issued H shares of the company. The transaction is subject to approval of shareholders of the company in Annual General Meeting scheduled to be held on June 22, 2017.