Jiangsu Lopal Tech. Group (SHA:603906, HKG:2465) raised net proceeds of HK$193.7 million from the placing of 15 million shares, according to a Monday Hong Kong bourse filing.
Shares of the automotive specialty chemicals seller were down nearly 3% in Tuesday afternoon trading.
The shares, representing around 1.9% of its enlarged issued share capital, were placed to at least six investors at HK$13.09 apiece.