Crown International (HKG:0727) has completed the issue of 1,059,870,000 shares to seven subscribers at HK$0.088 apiece, raising net proceeds of HK$93 million, a Thursday filing with the Hong Kong bourse said.

The shares represent approximately 16.67% of the property developer's enlarged issued share capital.

The company will use proceeds from the issue for the expansion of its premium white spirit retail network, as well as for general working capital.