CIG Shanghai (HKG:6166, SHA:603083) raised HK$1.98 billion in gross proceeds from the placement of 15.6 million H shares at HK$126.66 apiece, according to a Friday bourse filing in Shanghai.

Net proceeds from the placement to at least six investors reached HK$1.97 billion. The data transmission device maker will use the proceeds to stockpile core components and fund general corporate purposes.