iMotion Automotive Technology (Suzhou) (HKG:1274) seeks to raise HK$73.3 million in net proceeds by placing up to a little over 4.4 million shares to at least six independent third parties at HK$17.58 apiece, a Tuesday Hong Kong bourse filing said.

The maximum number of placement shares represents 1.92% of the enlarged issued share capital of the company.

The autonomous driving products and solutions manufacturer and seller plans to use the expected net proceeds to enhance the research and development of its intelligent driving solutions, improve and expand the R&D and manufacturing facilities, expand the overseas sales and service network, and for general working and corporate purposes.