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ITC Properties Raises HK$52.9 Million from Share Placement

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ITC Properties Group (HKG:0199) completed the placing of a little over 69.1 million new shares to raise net proceeds of HK$52.9 million, according to a Wednesday Hong Kong bourse filing.

The shares, which were placed to at least six investors at HK$0.8 apiece, represent 6.35% of the property developer's enlarged issued share capital.

The firm will use proceeds for investment-related initiatives focusing on AI and technology projects, as well as for the expansion of strategic partnerships to support ongoing projects and overseas growth.

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