China Properties Investment (HKG:0736) agreed to issue 53.4 million new shares at HK$0.188 each to seven individual investors, raising about HK$10.1 million, according to a Sept. 18 Hong Kong bourse filing.

The subscription price represents a 5.6% premium to the Sept. 18 closing price of HK$0.178 and a 6.6% premium to the five-day average closing price of HK$0.176.

The new shares will account for 16.67% of the company's existing issued share capital and 14.29% of its enlarged share capital.

The company plans to use the proceeds to repay outstanding interest-bearing borrowings.