Star Plus Legend (HKG:6683) will raise about HK$369.3 million in net proceeds through a placing of existing shares and a top-up subscription of new shares under its general mandate, according to a Thursday Hong Kong bourse filing.

Up to 75 million shares will be placed at HK$7.20 each, representing a 19.9% discount to Wednesday's closing price.

Of these, 54.5 million new shares will be issued to executive director Lai Kwok Fai Franki under the top-up subscription.

The proceeds will be used mainly for hosting concerts and exhibitions with international artists, developing celebrity IP and related content, R&D for food and beverage products, and working capital.