China HK Power Smart Energy Group (HKG:0931) is set to receive HK$14.5 million by issuing shares to a retail investor, according to a Monday bourse filing.
The company said it will allocate and issue 50 million new shares at HK$0.290 apiece, reflecting a 6.5% discount to the stock's last closing price.
Upon deal completion, subscriber Huang Jiajia will gain a 0.61% stake in China HK Power Smart Energy.
Net proceeds of HK$14.3 million will be used for working capital, the filing said.
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