Culturecom (HKG:0343) completed the placing of 200 million warrants to at least six investors at HK$0.031 apiece to raise net proceeds of nearly HK$5.5 million, a Tuesday Hong Kong bourse filing said.

The holders of the warrants will have the right to subscribe for up to 200 million shares in the company at HK$0.30 apiece within 24 months.

The publishing firm will use proceeds from the placement for general working capital.