China Hongqiao Group (HKG:1378) completed the placement of 400 million shares to at least six investors at HK$29.20 apiece to raise net proceeds of HK$11.5 billion, a Tuesday Hong Kong bourse filing said.

The shares represent around 4.03% of the aluminum products manufacturer's enlarged issued share capital.

The firm will use proceeds from the placement for its domestic and overseas projects, repayment of debt, and working capital and general corporate purposes.