New Concepts (HKG:2221) said it has completed the subscriptions of new shares under a general mandate after all conditions precedent were fulfilled, according to a Feb. 6 Hong Kong bourse filing.

Shares of the environmental protection company were up nearly 8% in Monday morning trade.

The company issued 34.2 million new shares at HK$1.00 apiece, generating net proceeds of HK$34.1 million.

The subscription shares represent about 14.93% of the company's enlarged issued share capital.

The net proceeds will be used mainly to repay overdue bond, lease, and other payables, with the remainder allocated to general working capital, the filing showed.