IMotion Automotive Technology (Suzhou) (HKG:1274) raised HK$228.4 million in net proceeds by placing 1,190,200 shares to at least six investors at HK$20.88 apiece, a Monday filing with Hong Kong Exchange said.

The shares represent 4.63% of the Chinese autonomous driving solution company's enlarged issued share capital.

The company will use the proceeds from the issue to boost its R&D of certain solutions and products, to expand its overseas sales and service network, and for working capital and general corporate purposes.