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An update from Innovative Pharmaceutical Biotech ( (HK:0399) ) is now available.
Innovative Pharmaceutical Biotech Limited has entered into a Subscription Agreement with a professional investor, Erick Wong, to issue 137,600,000 new shares at a price of HK$0.176 each, representing a discount to recent trading prices. The proceeds, approximately HK$23,917,600 net, will be used for general working capital. The issuance represents around 7.02% of the company’s enlarged share capital, subject to conditions precedent, and aims to strengthen the company’s financial position.
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 offering innovative medical and biotech solutions.
Average Trading Volume: 1,626,584
Technical Sentiment Signal: Hold
Current Market Cap: HK$388.1M
Learn more about 0399 stock on TipRanks’ Stock Analysis page.