FOWAY GROUP (03738.HK) completes the placement of 138 million shares of placement shares, raising approximately HK$513 million net.

The Wisdom Financial APP News reported that FUBO Group (03738.HK) announced that a total of 138 million shares of the placement shares have been allocated and issued to no less than six underwriters at a subscription price of HK$3.78 per share, raising approximately HK$513 million in net proceeds. 65% will be used for the development and investment in artificial intelligence-generated content related business, 10% will be used to repay interest-bearing loans, and 25% will be used for general working capital purposes to facilitate the Group's business operations.