Zhongshen Jianye (HKG:2503) completed the issue of nearly 123.6 million shares to six investors at HK$0.61 apiece to raise net proceeds of HK$75.1 million, a Thursday Hong Kong bourse filing said.

The shares represent around 16.67% of the construction company's enlarged issued share capital.

The firm will use proceeds from the issue for the capital needs and cash flow of certain projects, as well as for general working capital.