Pu'er Lancang Ancient Tea (HKG:6911) said it agreed to sell 24 million shares to four investors at HK$2.46 apiece to raise gross proceeds of HK$59 million, according to a Hong Kong bourse filing Sunday.

Shares of the tea products manufacturer jumped over 6% in morning trade Monday.

The company will issue 4 million shares to Yang Xuanming; 2.5 million shares to DY Capital; 4.5 million shares to One Treasure; and 13 million shares to FY Group.

The shares represent 76.19% of the company's existing H shares and 19.05% of its total issued share capital, and 43.24% and 16% on an enlarged basis, respectively.

The company will use the proceeds for general working capital.