Mirxes (HKG:2629) completed a placing of 21.9 million new shares at HK$32.50 each, generating net proceeds of about HK$673.4 million, according to a Thursday Hong Kong bourse filing.

Shares of the micro ribonucleic acid technology firm were down more than 4% in Friday morning trade.

The shares were placed to no fewer than six independent investors under a general mandate, the company said.

Mirxes said it plans to deploy the net proceeds toward investments and mergers and acquisitions, research and development, including clinical programs, expansion into emerging markets, and general working capital.

Following the placing, the issued share capital increased to 298.2 million shares, with the placees holding about 7.3% of the enlarged share base.