Alpha Professional (HKG:0948) said Well Dynasty Investments has placed 28 million shares in the company to at least six investors at HK$0.24 apiece, a Nov. 14 Hong Kong bourse filing said.

Shares of the mobile distributor were up 7% in Monday afternoon trading.

The shares represent 8.02% of the firm's existing issued share capital.

Following the completion of the placement, the firm will issue 28 million shares to Well Dynasty Investments at HK$0.24 per share.

The parties first entered into the placement and top-up subscription agreement on Nov. 12.

Well Dynasty Investments is indirectly wholly owned by Chong Sok Un, a controlling shareholder of Alpha Professional.