Creative China Holdings Limited (SEHK:8368) announced that it has entered into a subscription agreement with new investor Wu Jian for a private placement of 158,064,516 shares at a price of HKD 0.062 per share for gross proceeds of HKD 9,800,000 for 9.99% stake on January 10, 2020. The subscription agreement is required to obtained all necessary consents and approvals as may be required to be obtained in respect of the subscription and the transactions contemplated under the subscription agreement. The transaction is expected to complete on the fourth business day after the date that the conditions precedent of the agreement have been fulfilled. The shares issued will have a restricted period of 6 months from the date of closing. The company will incur expenses of HKD 10,000 in the transaction and will receive net proceeds of HKD 9,790,000. The nominal price of shares is HKD 0.01 and are being issued at premium.