RoboSense Technology (HKG:2498) seeks to raise gross proceeds of up to HK$277.5 million via placement of up to 10 million new shares to at least six independent institutional and corporate professional investors at HK$27.75 apiece.

The shares represent 2.22% of the enlarged issued shares of the company, a Wednesday Hong Kong bourse filing said.

The company plans to use the net proceeds of HK$271.0 million for research and development, business development in the overseas market, and general working capital of the group.