HK Stock Market Move | 361 Degrees (01361) rose nearly 3%, completing the placement of 100 million shares to raise approximately HK$610 million. The funds are intended to be used for expanding overseas market networks and more.

361 DEGREES (01361) rose by nearly 3%, as of the time of writing, it has increased by 2.76% to HK$5.59, with a turnover of HK$79.396 million. In terms of news, 361 DEGREES announced that the placement matters have been completed as of April 30, 2026, and a total of 100 million placement shares were sold to at least six independent placing agents at HK$6.18 per share in accordance with the terms of the placement and subscription agreement. As all the conditions of the subscription matters have been met, the subscription matters were completed on May 7, 2026, and 100 million subscription shares were issued to the seller at a subscription price of HK$6.18 per share. After deducting relevant placement commissions, professional fees, and all related expenses that the company will bear, the net amount received by the company from the subscription matters is approximately HK$610 million. As disclosed in the announcement, it is intended that the net proceeds will be used as follows: approximately 80% will be used to expand the overseas market network, including but not limited to: leasing and decoration of retail stores, construction of an e-commerce platform, acquisition of potential business targets, marketing and brand promotion activities, and setting up overseas subsidiaries; and approximately 20% will be used for general operating capital and other general corporate purposes, including but not limited to: supporting the daily operations of the group's core business and ongoing business development, as well as allocating start-up funds for setting up overseas subsidiaries and offices.