[ET Net News Agency, 25 September 2017] NetDragon Websoft (00777) said it agreed to
place 38.5 million top-up placing shares at HK$25.4 apiece, representing a discount of
about 7.13% to the closing price of HK$27.35.
The placing shares represent around 7.19% of the enlarged issued share capital of
NetDragon.
The estimated net proceeds of about HK$968.12 million will be used for general corporate
purposes and to fund the growth of its online education business, including capitalizing
on revenue opportunities globally, as well as in user scaling and monetization. (HL)