IMotion Automotive Technology (Suzhou) (HKG:1274) agreed to place 11,190,200 shares to at least six investors at HK$20.88 apiece to raise net proceeds of up to HK$228.4 million, a Feb. 9 filing with the Hong Kong said.
The shares represent roughly 4.63% of the Chinese autonomous driving solution company's enlarged issued share capital.
The company will use proceeds from the issue to boost the R&D of certain solutions and products, to expand its overseas sales and service network, and for working capital and general corporate purposes.
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