Ingdan (HKG:0400) issued 125 million new shares, representing 8.23% of the enlarged issued shares of the company, to Optimum Profuse Technology (HK) at HK$1.30 apiece on Thursday, a same-day bourse filing said.

The shares make tranche one of a subscription agreement between the parties, involving 250 million new shares in total for HK$325 million at HK$1.30 apiece.

Tranche 2 of the subscription shares, involving the remaining 125 million new shares is expected to be completed by March 30.

After the completion of the tranche 1 subscription, the issued shares of the company have increased to 1,519,262,732 shares from 1,394,262,732 shares.