ArtGo Holdings (HKG:3313) is looking to raise HK$25.1 million from the placement of over 237 million shares at HK$0.106 apiece, a Dec. 5 Hong Kong bourse filing said.

Shares of the marble mining business operator surged over 36% in Monday afternoon trading.

The shares represent around 16.67% of the firm's enlarged issued share capital.

The firm will use the proceeds for working capital and repayment of debt.