Acme International (HKG:1870) completed the placement of 124.8 million shares to at least six investors at HK$0.138 apiece to raise net proceeds of HK$16.4 million, a Wednesday filing with the Hong Kong bourse said.
The shares represent roughly 16.67% of the design and build solutions company's enlarged issued share capital.
The firm will use proceeds from the issue to develop its electricity trading business, expand its existing renewable energy solution business in New Zealand, develop potential green power energy projects in China and overseas, and for general working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.