Prosperity Group International (HKG:1421) completed a previously announced placement of nearly 33.4 million shares at HK$0.34 apiece to raise HK$11.3 million in gross proceeds, a Wednesday filing with the Hong Kong bourse said.

The shares represent around 16.67% of the electrical distribution company's enlarged issued share capital, the filing said.

The firm will use proceeds from the issue for general working capital.