Fameglow Holdings Ltd. has announced its strategy for the use of net proceeds from a recent subscription of new shares under a general mandate. The company plans to allocate approximately HK$35.0 million, or 74.9% of the net proceeds, to the payment of staff costs, including salaries, wages, commissions, bonuses, allowances, and retirement benefit scheme contributions. Additionally, around HK$6.0 million, or 12.9% of the net proceeds, will be used for rental and building management expenses. The remaining HK$5.71 million, or 12.2%, is designated for other business and corporate expenses, including marketing and promotion, as well as office and general administrative costs.
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