China Silver (00815) said it agreed to place up to 17.96 million new shares at HK$4.25 apiece, representing a discount of about 19.96% to the closing price of HK$5.31.
The placing shares represent around 1.37% of the enlarged issued share capital of China Silver.
The estimated net proceeds of about HK$74 million will be used for general working capital and other potential investments.
The placees include PICC Property and Casualty (02328), subsidiaries of PICC Group (01339) and China Export & Credit Insurance Corporation.