Hope Life International (HKG:1683) agreed to place up to 141,040,000 shares to at least six investors at HK$0.60 apiece to raise about HK$83.6 million, a Friday Hong Kong bourse filing said.

The shares represent 8.31% of the construction services provider's enlarged issued share capital.

The firm will use proceeds from the placement for construction projects funding, product advertising campaign launch, working capital for a production plant, and general working capital

Shares of the company were up nearly 9% in recent trade.