"Jay Chou Concept Stock" Star Plus Legend announced that on November 13, 2025, the company, the vendors, and the placing agents entered into a placing and subscription agreement, under which (a) the vendors agreed to appoint the placing agents, and the placing agents agreed to procure buyers on a best-effort basis to purchase placing shares at the placing price of HK$7.20 per share, amounting to a maximum of 75 million shares, including both top-up placing and Magic Express shares; (b) the top-up vendors conditionally agreed to subscribe, and the company conditionally agreed to allot and issue to the top-up vendors, subscription shares at the subscription price (equal to the placing price) of a maximum of 54.498 million shares.

Star Plus Legend shares plunged 18.7% in Hong Kong.

Assuming full placement, the number of placing shares will be equivalent to approximately 8.36% of the total issued shares as of the announcement date, and approximately 7.88% of the enlarged total issued shares upon completion of the subscription (assuming no change in the total issued shares from the announcement date to the completion date except for the issuance of the subscription shares). The placing price of HK$7.20 per placing share represents a discount of approximately 19.91% to the closing price of HK$8.99 per share on November 12.

As of the announcement date, the vendors (top-up vendors and Magic Express) hold 99.651 million shares and 20.52 million shares respectively, representing approximately 11.11% and 2.29% of the company's issued share capital. Upon completion of the placing, Magic Express's shareholding will decrease from approximately 2.29% of the issued share capital as of the announcement date to zero.

Assuming full placement of the top-up shares, the gross proceeds and net proceeds from the subscription are expected to be HK$392.4 million and HK$369.3 million, respectively. The net proceeds are intended to be used as follows: approximately 67.70% for the costs of organizing concerts and exhibitions for internationally renowned artists; approximately 16.25% for the cost of creating unique star IPs and related IP content (including but not limited to signing new IPs with international influence); approximately 6.06% for the R&D and procurement costs of food and beverage products; approximately 9.99% for general working capital and general corporate purposes.