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Innovative Pharmaceutical Biotech ( (HK:0399) ) has issued an update.
Innovative Pharmaceutical Biotech Limited has announced a placement of new shares under a general mandate, with the aim of raising approximately HK$60,175,000 in gross proceeds. The net proceeds, estimated at HK$58,825,000, are intended to be used for the development of blockchain technology business, marking a strategic expansion into this emerging field. The placement involves up to 145,000,000 shares at a price of HK$0.415 each, representing a discount to recent trading prices, and is expected to enhance the company’s financial position and support its growth initiatives.
More about Innovative Pharmaceutical Biotech
Innovative Pharmaceutical Biotech Limited is a company incorporated in the Cayman Islands and continued in Bermuda, operating in the pharmaceutical and biotechnology industry. The company focuses on developing and providing innovative pharmaceutical solutions and has recently shown interest in expanding into blockchain technology.
Average Trading Volume: 20,394,988
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.04B
For an in-depth examination of 0399 stock, go to TipRanks’ Overview page.