Intuitive Investments Group Plc (LSE:IIG) shares fell 11% after it announced an equity fundraise of £3.65 million at a 20% discount to its recent price.
The tech and life sciences investment company issued shares at a price of 100p per share, in line with the £9.6 million fundraise it completed in June.
Early yesterday the shares had been trading at just above 120p.
As with the previous recent fundraises, IIG said the proceeds of the issue will be invested in Hui10 Inc, the Chinese lottery technology company that is the largest investment in its portfolio.
The latest investment is to help Hui10 accelerate the rollout of its products and services in China.
In April, Hui10 began rolling out its lottery and retail technology platforms following the successful completion of its pilot phase in three Chinese provinces.
IIG said the model has been validated and technology proven in this pilot, with national-scale partnerships formed.
Hui10 was targeting to be in 15 provinces by the end of 2025, accessing more than 500 million adults.