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ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H ( (HK:1541) ) has provided an update.
ImmuneOnco Biopharmaceuticals (Shanghai) Inc announced a placement of 24,200,000 new H shares at HK$14.50 per share, representing approximately 5.94% of the company’s issued share capital. The placement is expected to raise gross proceeds of approximately HK$350.9 million, with net proceeds estimated at HK$345.1 million. The shares will be placed to at least six independent third-party investors, and the placement does not require shareholders’ approval as it falls under the general mandate granted by the company’s shareholders. This move is part of the company’s strategy to strengthen its financial position and support its ongoing operations and development projects.
The most recent analyst rating on (HK:1541) stock is a Hold with a HK$13.00 price target. To see the full list of analyst forecasts on ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H stock, see the HK:1541 Stock Forecast page.
More about ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H
ImmuneOnco Biopharmaceuticals (Shanghai) Inc is a biopharmaceutical company based in China, focusing on the development and commercialization of innovative cancer immunotherapy products. The company is involved in research and development activities aimed at creating novel treatments that harness the body’s immune system to fight cancer.
Average Trading Volume: 3,416,416
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$11.58B
Learn more about 1541 stock on TipRanks’ Stock Analysis page.