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BIOSTAR PHARM-B (02563.HK) Issues New Shares to Bring in Baiyang Pharmaceutical, Net Proceeds HKD100 million
BIOSTAR PHARM-B (02563.HK) announced that it will issue 25 million new shares to Baiyang Health Industry, a wholly-owned subsidiary of Baiyang Pharmaceutical (30105.SZ), its strate...
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BIOSTAR PHARM-B (02563.HK) Issues New Shares to Bring in Baiyang Pharmaceutical, Net Proceeds HKD100 million
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BIOSTAR PHARM-B (02563.HK)  +0.080 (+1.790%)   announced that it will issue 25 million new shares to Baiyang Health Industry, a wholly-owned subsidiary of Baiyang Pharmaceutical (30105.SZ), its strategic partner, at HKD4 per share, representing a discount of 11.11% to today's (7th) closing price. Net proceeds amount to approximately HKD100 million and will be used for the development of ADC products and platforms, deepening commercialization cooperation, launching new projects and commercialization of research results, as well as general working capital. Upon completion, Baiyang Pharmaceutical's shareholding in the company will increase from the current 1.14% to 7.49%. (de/d)(HK stocks quote is delayed for at least 15 mins.)

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