Shanghai MicroPort MedBot (Group) (HKG:2252) plans to raise HK$266.1 million in net proceeds from the sale of 34,700,000 new H Shares to at least six subscribers, according to a Tuesday filing with the Hong Kong bourse.

The shares, which will be issued at HK$7.85 apiece, will account for about 3.45% of the company's share capital as enlarged by the offering.

Proceeds from the sale will be used to expand the company's core business and replenish working capital.

The company's shares were down by 15% in recent trading.