China Health Technology Group (HKG:1069) completed the placing of 17 million shares to at least six investors at HK$0.28 apiece to raise net proceeds of around HK$4.6 million, a Friday Hong Kong bourse filing said.

The shares represent roughly 16.52% of the forestry management services company's enlarged issued share capital.

The firm will use proceeds from the issue for rental expenses, staff costs, and professional fees.