Cocoon Holdings (HKG:0428) expects to raise net proceeds of about HK$4.7 million from the placement of up to 30.9 million new shares at HK$0.155 each, according to a Hong Kong bourse filing on Monday.

The placing price represents a 19.27% discount to Monday's closing price of HK$0.192.

The shares will account for 20% of the company's existing issued share capital and 16.67% of its enlarged share capital, assuming the placement is fully subscribed.

The company plans to use about HK$3.7 million of the net proceeds to invest in listed and unlisted securities, with the remaining HK$1 million allocated to general working capital.