China Silver Group (HKG:0815) agreed to sell nearly one-fifth of its issued share capital to eight subscribers, according to a Hong Kong bourse filing Monday.

Shares of the non-ferrous metals manufacturer fell over 7% in late-morning trade Tuesday.

The company agreed to sell 460 million shares at HK$0.45 each to raise HK$207 million. The shares represent 19.64% of the company's existing issued share capital.

Funds raised will primarily be used for the purchase of inventory materials for the company's manufacturing segment.