Yues International (HKG:1529) raised net proceeds of HK$67.6 million from its recently concluded rights issue, according to a Thursday disclosure.

The logistics service provider received 23 applications for nearly 499,123,960 rights shares, representing 93.53% of the total number of rights shares allocated for the deal.

The firm has placed all 34,540,040 unsubscribed rights to at least six investors at HK$0.13 apiece.

Dealings in the newly issued rights shares are expected to begin May 19.

The company will use proceeds from the rights issue for general working capital, its newly developed goat milk product business, and building warehouses in the traditional Chinese medicine logistics industry park in China.