Laopu Gold (HKG:6181) completed the placing of 4,310,000 new H shares to at least six investors on Thursday at HK$630 apiece to raise HK$2.7 billion, a Thursday Hong Kong bourse filing said.

The shares represent around 2.5% of the Chinese jewelry brand's enlarged issued share capital.

The firm will use proceeds from the issue to expand its sales network, optimize internal IT system, enhance R&D capabilities, and boost general working capital.