Hao Tian International Construction Investment Group (HKG:1341) completed the placing of 125 million shares at HK$0.40 apiece to raise net proceeds of around HK$49.3 million, a Monday Hong Kong bourse filing said.

The shares represent around 1.61% of the construction machinery company's enlarged issued share capital.

The firm will use proceeds from the issue to develop an internet data center in Malaysia, repay loans, and for general working capital.