Comba Telecom Systems (HKG:2342, SGX:STC) agreed to place 341.4 million new shares to two subscribers for HK$372.2 million or HK$1.09 apiece on Monday, a same-day Hong Kong bourse filing said.

The company agreed to issue 310,407,322 new shares, 10.10% of its enlarged issued share capital, to Ocean Link Investment for HK$338.3 million, and 31,040,732 new shares, 1.11% of its enlarged issued share capital, to Intel Capital for HK$33.8 million.

The proceeds from the placement are planned to be used for the general working capital of the group.