Acme International (HKG:1870) completed the placing of 50 million shares to at least six investors at HK$0.238 apiece to raise net proceeds of HK$11.6 million, a Monday Hong Kong bourse filing said.

The shares represent roughly 5.06% of the building maintenance provider's enlarged issued share capital.

The firm will use proceeds from the issue for the development of the electricity trading business and other related potential green power energy projects in China, as well as for general working capital.