Icon Culture Global Company Limited Announces Share Offer Allotment Results

• Public Offer Shares Approximately 15.1 Times Subscribed
• Offer Price Set at HK$1.39 Per Share
• Trading Debut on 14 January, 2020

HONG KONG, Jan. 13, 2020 /PRNewswire/ -- Icon Culture Global Company Limited (The "Company", Stock Code: 8500.HK), an integrated multimedia advertising and marketing solution service provider based in Guangzhou, the PRC with almost 10 years of operating history, announced the allotment results of Share Offer, with Public Offer Shares of approximately 15.1 times subscribed. The Offer Shares initially offered under the Public Offer have been moderately oversubscribed. Placing Shares have been subscribed approximately 1.15 times. The Placing Shares initially offered under the Placing have been slightly over-subscribed. The Offer Price has been determined at HK$1.39 per Offer Share. 

Icon Culture Global Company Limited is issuing a total of 13,500,000 Public Offer Shares (as adjusted after reallocation). As the number of Offer Shares validly applied for under the Public Offer represents more than 15 times but less than 50 times of the initial number of the Public Offer Shares, a total number of 9,000,000 Placing Shares have been reallocated to the Public Offer, so that the total number of Offer Shares available under the Public Offer has been increased to 13,500,000 Offer Shares, representing 30% of the total number of the Offer Shares initially available under the Share Offer. The final number of Placing Shares is 31,500,000 after reallocation to the Public Offer, representing 70% of the total number of Offer Shares initially available under the Share Offer. Based on the Offer Price of HK$1.39 per Offer Share, the amount of net proceeds to be received by the Company from the Share Offer, after deducting the underwriting fees and estimated expenses payable by the Company in connection with the Share Offer, is estimated to be approximately HK$31.9 million. Dealings in the Shares on the GEM of The Stock Exchange of Hong Kong Limited are expected to commence on 14 January 2020 (Tuesday). The stock code of the Shares is 8500.HK. The Shares will be traded in board lots of 2,000 Shares each.

Pursuant to the Cornerstone Investment Agreements entered into among the Company, the Sole Sponsor, the Sole Bookrunner and each of the Cornerstone Investors, the number of Offer Shares subscribed by the Cornerstone Investors has now been determined. Ms. Le Luping has subscribed 7,198,000 shares, Ms. Lu Xiaochang has subscribed 6,398,000 shares and Mr. Long Yuan has subscribed 1,438,000 shares, representing a total number of 15,034,000 shares.

Innovax Capital Limited is the Sole Sponsor; Innovax Securities Limited is the Sole Bookrunner and Sole Lead Manager; Marketsense Securities Limited and Pulsar Capital Limited are Co-Managers. 

Mr. Eric Chow, Executive Director, Founder and Chairman, said, "We are glad to see the support from investors on the Share Offer which showed the market's overall recognition of the Company's ability and their strong support in our future growth potential. We believe that with this listing, it provides us with the capital necessary to maintain our competitiveness in a rapidly evolving industry, enables us to increase our exposure and raises our profile and reputation in China and international markets. We believe that our competitive advantages will enable us to maintain sustainable growth in our business and create long-term shareholders' value."

Icon Culture Global Company Limited (Stock Code: 8500.HK)
(Incorporated in the Cayman Islands with Limited Liability)

The Group has almost 10 years of experience in offering integrated multimedia advertising and marketing solutions, which primarily engages in the provision of traditional offline media advertising services; online media advertising services; and PR, marketing campaigns and other services in the PRC. The Group had certain exclusive advertising spaces at Guangzhou South Railway Station (for customers from property development and tourism industry sectors only), Shenzhen Futian Transportation Hub, China Railway's 12306 online ticketing system, elevators and lobbies in a shopping mall, commercial buildings, housing estates and a golf club in Guangzhou, the PRC. In addition, the Group served over 180 customers, including brand owners (including state-owned enterprises in the PRC), advertising agencies and government authorities, in which Liby Group, Tencent Group, Hengqin Life Insurance, KINGOLD Group, Imperial Palace, Chimelong Group, and other well-known brand owners are also the Group's customers.

This press release is not for publication or distribution, directly or indirectly, in or into the United States.

This press release is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or

subscribe for the securities of Icon Culture Global Company Limited (the "Company"). Potential investors should read the prospectus (the "Prospectus") to be issued by the Company on 30 December, 2019 for detailed information about the Company and the Share Offer.

This press release is not for release, publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This press release does not constitute or form a part of any offer to sell or solicitation to purchase or subscribe for securities in the United States or in any other jurisdictions. The Offer Shares have not been and will not be registered under the United States Securities Act of 1933, as amended from time to time (the "U.S. Securities Act"), or any state securities laws of the United States or other jurisdictions, other than Hong Kong, and may not be offered, sold, pledged or transferred or delivered within the United States unless pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act or any applicable state securities laws of the United States. The Offer Shares may only be offered and sold outside of the United States in offshore transactions in accordance with Regulation S under the U.S. Securities Act. There will be no offer or sale of the Offer Shares in the United States.

Note: Unless otherwise defined, terms in this press release shall have the same meanings as those defined in the Prospectus together with any supplement thereto.