C Cheng (HKG:1486) raised net proceeds of HK$13.8 million from a rights share offering after placing all 22,161,000 unsubscribed rights shares on June 13, a Thursday Hong Kong bourse filing said.

The shares were placed to six investors at HK$0.10 apiece, according to the architectural services provider.

The firm had, earlier this month, received 13 applications for 121,969,390 rights shares, representing 84.62% of the total rights shares under the offering.

The firm will use proceeds from the issue to develop its existing business in the MENA region through the recruitment of skilled professionals, boost its IT infrastructure, and for general working capital of the Group.