iMotion Automotive Technology (Suzhou) (HKG:1274) raised about HK$73.3 million by placing 4,427,000 shares to at least six placees, according to a Monday filing with the Hong Kong bourse.
The placing price is HK$17.58 per Placing Share. The placement shares will account for about 1.92% of the company's enlarged share capital.
The company plans to use the proceeds for better R&D and production facilities and improve the overseas sales network and general corporate purposes.
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