Chaoda Modern Agriculture (HKG:0682) completed the issuance of new shares under its general mandate, according to a Dec. 19 Hong Kong bourse filing.

Shares of the firm were up over 9% in Monday morning trade.

The company allotted and issued 33 million placing shares at HK$0.225 each to at least six independent placees, representing about 16.7% of its enlarged issued share capital.

Net proceeds from the placing amounted to about HK$7.2 million after expenses, with funds to be used in line with purposes previously disclosed, the filing said.