GCL Technology Holdings (HKG:3800) raised HK$1.53 billion in net proceeds from the placement of 1.56 billion shares of the company, representing 5.48% of its enlarged issued share capital, to at least six independent parties, a Monday Hong Kong bourse filing said.

The company plans to use 60% of the proceeds for business development and expansion, while the remaining for the general working capital of the group.