New Sparkle Roll International Group (HKG:0970) completed the issue of a total of 93,800,301 shares to two subscribers at HK$0.402 apiece to raise net proceeds of HK$36.8 million, a Monday filing with the Hong Kong bourse said.

The shares represent around 16.67% of the company's issued shares after completion of the issue.

The automobile distributor will use proceeds from the issue for litigation expenses, potential investments, and general working capital.