Envision Greenwise (HKG:1783) agreed to sell HK$155 million worth of shares to two subscribers, according to a Hong Kong bourse filing Friday.
Shares of the construction company gained nearly 9% in morning trade Monday.
The company entered into agreements with Vintage Antique and Victoria Sight Capital to sell 30 million shares and 20 million shares at HK$3.10 apiece, respectively.
The 50 million shares to be issued represent 1.78% of the company's issued share capital and 1.75% as enlarged by the offering.
Funds raised will be used to advance the company's EcoPark project and to support its sales initiative, Envision said.