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The latest announcement is out from Immunotech Biopharm Ltd ( (HK:6978) ).
Immunotech Biopharm Ltd has entered into a legally binding framework agreement with the existing holder of its 2023 Convertible Bonds for the subscription of new convertible bonds and a note, with the entire consideration to be used to fully settle the principal of the 2023 bonds maturing on 20 February 2026. The new convertible bonds will be issued under the company’s general mandate and the resulting conversion shares will rank pari passu with existing shares, while completion of the transaction remains subject to agreement on final terms, regulatory and board approvals, and other conditions precedent, meaning the deal may or may not proceed and investors are urged to exercise caution when trading the company’s securities.
The most recent analyst rating on (HK:6978) stock is a Sell with a HK$2.50 price target. To see the full list of analyst forecasts on Immunotech Biopharm Ltd stock, see the HK:6978 Stock Forecast page.
More about Immunotech Biopharm Ltd
Immunotech Biopharm Ltd is a Hong Kong–listed biopharmaceutical company focused on developing and commercialising innovative therapies, with its shares traded on the Main Board of the Stock Exchange of Hong Kong under stock code 6978. The company accesses capital markets through equity and convertible bond issuances to support its operations and strategic development.
Average Trading Volume: 1,075,357
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.72B
See more data about 6978 stock on TipRanks’ Stock Analysis page.