Dashan Education (HKG:9986) said it agreed to shorten the long stop date of its previously announced share offering to July 17 from July 27, according to a Hong Kong bourse filing Friday.

Shares fell nearly 3% in morning trade Monday.

The after-school services provider is looking to place up to 40 million shares at HK$1.23 apiece to raise a maximum of HK$48.7 million.

The firm will use proceeds from the placement to develop and expand its consulting services, as well as for general working capital.