China Kingstone Mining (HKG:1380) said it agreed to issue 19.1 million new shares at HK$0.185 each to an independent subscriber, raising net proceeds of about HK$3.46 million, according to a Sept. 26 filing.

Shares of the firm gained over 1% in Monday's late morning trade.

The subscription price represents a 5.7% premium to the last closing price, and the shares will account for 5.2% of the existing share capital and 4.9% after issuance.

The company said the net proceeds will be used as general working capital.