Legend Strategy International Holdings Group (HKG:1355) completed the placing of 89,670,000 shares to at least six placees to raise net proceeds of HK$15 million on Friday, a same-day bourse filing said.

The shares, which were issued at HK$0.169 apiece, represent roughly 16.7% of the hotel operator's enlarged issued share capital.

The company will use proceeds from the placement for the renovation of accommodation facilities and for general working capital.