Zall Smart Commerce Group Ltd. announced that it has entered into subscription agreement for the issuance of 600,000,000 ordinary shares at a price of HKD 0.50 per ordinary share for gross proceeds of HKD 300,000,000 on January 18, 2022. The transaction will include participation from returning investor Zall Holding Co., Ltd. for approximately 10.57% stake in the company upon closing. The company will receive HKD 299,800,000 net proceeds after deduction of related fees and expenses. The transaction is subject to approval from The Stock Exchange of Hong Kong Limited and from the shareholders of the company in the Extra Ordinary General meeting.