Shenzhen Pagoda Industrial (Group) (HKG:2411) completed the placing of 279.5 million shares to at least six investors at HK$1.17 apiece to raise net proceeds of HK$325 million, a Thursday Hong Kong bourse filing said.

The shares represent around 15.4% of the fruit retailer's enlarged issued share capital.

The firm will use proceeds from the placement to settle trade payables, repay bank loans, and for general working capital and administrative expenses.