Ubtech Robotics (HKG:9880) has completed the placing of 7 million shares to at least six investors at HK$83.88 per H Share to raise net proceeds of HK$551.9 million, a Tuesday bourse filing said.

The shares represent around 1.62% of the Chinese robotics company's enlarged issued share capital.

The company will use proceeds from the placing for its business operation and development, as well as repayment of amounts due under certain credit facilities.