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Immunotech Biopharm Ltd ( (HK:6978) ) has issued an update.
Immunotech Biopharm Ltd has completed the issuance of new convertible bonds totaling RMB270 million and an additional note of RMB30 million to an investor, using the full consideration to settle in full the principal of its 2023 convertible bonds maturing in February 2026. Following potential full conversion of the new bonds at the initial conversion price, total shares would rise from 617,500,800 to 720,381,587, introducing the new investor with about 14.28% of the enlarged share capital and diluting existing shareholders, including the controlling shareholder group and public investors, while improving the company’s near-term debt maturity profile.
The most recent analyst rating on (HK:6978) stock is a Hold 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 commercializing innovative therapies. The company operates in the biotechnology and life sciences sector and raises capital through equity and convertible bond financing to support its research, development, and commercialization activities.
Average Trading Volume: 894,316
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.54B
For a thorough assessment of 6978 stock, go to TipRanks’ Stock Analysis page.