WebX Holding Group (HKG:0339), formerly China Sci-Tech Industrial Investment Group, is looking to raise net proceeds of HK$46.8 million from a share placement, according to a Sept. 11 Hong Kong bourse filing.

Shares of the investment holding company were down over 1% in Monday afternoon trading.

The company will place up to 86.4 million shares, representing at least 16.67% of its enlarged issued share capital, to at least six investors.

Proceeds will be used for investment opportunities in listed and unlisted securities and general working capital.