Laopu Gold (HKG:6181) plans to sell 4,310,000 shares for HK$630 apiece to not less than six investors under a share placement deal, according to a Thursday filing with the hOn gKong bourse.

The shares represent 2.50% of the Chinese jewelry brand's entire shareholding as of enlarged by the allotment and issuance of the shares.

Net proceeds, expected to to be at HK$2.70 billion, will be used to expand its boutiques in China, improve their existing outlets and expand their floor area, as well as refill working capital.