Alpha Professional (HKG:0948) said Well Dynasty Investments has placed 28 million shares in the company to at least six investors at HK$0.24 apiece, a Nov. 14 Hong Kong bourse filing said.
Shares of the mobile distributor were up 7% in Monday afternoon trading.
The shares represent 8.02% of the firm's existing issued share capital.
Following the completion of the placement, the firm will issue 28 million shares to Well Dynasty Investments at HK$0.24 per share.
The parties first entered into the placement and top-up subscription agreement on Nov. 12.
Well Dynasty Investments is indirectly wholly owned by Chong Sok Un, a controlling shareholder of Alpha Professional.
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