China Parenting Network (HKG:1736) agreed to sell HK$2 million worth of shares to four investors, according to a Hong Kong bourse filing Monday.
Shares of the online platform gained over 16% in late morning trade Tuesday.
The firm is selling 4.6 million shares at HK$0.432 apiece to the investors. The shares represent around 10.71% of the company's issued share capital and 9.68% as enlarged by the sale.
The sale aims to help the firm raise funds to repay its debts.
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