Jiangxi Rimag Group (HKG:2522) is looking to raise net proceeds of up to HK$182.3 million from the placement of 9,750,000 shares to at least six investors at HK$20 apiece, a Friday filing with the Hong Kong bourse said.

The shares represent approximately 3.76% of issued H shares and 2.66% of the total number of issued shares as enlarged by the issue.

The medical imaging solution services company will use proceeds from the issue for business investment and mergers and acquisitions, overseas business expansion, data and R&D, and general working capital.