Shanghai Zhida Technology Development (HKG:2650) is looking to raise net proceeds of HK$205.8 million from the placement of up to 19.1 million shares, according to a Tuesday Hong Kong bourse filing.
The shares, which will be placed to at least six investors at HK$10.98 apiece, represent 6.01% of the electric-vehicle charging systems maker's enlarged issued share capital.
The company will use proceeds for product R&D, expansion of application scenarios and channels, the development of overseas markets for its products, and general working capital.
Shares of the company were down 9% in recent trade.
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