Scholar Education Group has announced a private placement involving the subscription of 110,000,000 new shares at a price of HK$2.2 per share under its general mandate. The subscription agreements were entered into with certain subscribers, and completion of the subscriptions is subject to approval by the Listing Committee of the Stock Exchange and the satisfaction of other conditions. The company stated that the fundraising will support its business development and that the terms of the agreements are fair and reasonable. No fund raising activities involving the issue of equity securities were conducted by the company in the past twelve months.
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