Q Technology (Group) (HKG:1478) subscribed for an additional 20 million shares of its associate, Newmax Technology (TPE:3630), in a private placement at NT$22.16 apiece, a Monday bourse filing said.

The associate is engaged in the development of lenses applied to smartphones, augmented and virtual reality, and internet of things applications, among others.

The subscribed shares represent 9.8% of the enlarged issued shares of Newmax Technology, and after the placement, the company now holds 41.8% of the enlarged issued shares of the associate.