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Innovent Biologics ( (HK:1801) ) has issued an update.
Innovent Biologics, Inc. announced the placement of 55 million new shares, representing approximately 3.33% of its total shares, under a general mandate. The placement is expected to generate gross proceeds of approximately HK$4,309.8 million, with net proceeds of HK$4,265.4 million, which will be used as detailed in the company’s plans. The shares will be issued at a discount to the current market price, and the transaction is contingent upon certain conditions being met.
The most recent analyst rating on (HK:1801) stock is a Buy with a HK$65.98 price target. To see the full list of analyst forecasts on Innovent Biologics stock, see the HK:1801 Stock Forecast page.
More about Innovent Biologics
Innovent Biologics, Inc., incorporated in the Cayman Islands, operates in the biotechnology industry, focusing on the development and commercialization of biologic drugs. The company is listed on the Hong Kong Stock Exchange under the stock code 1801.
Average Trading Volume: 26,498,634
Technical Sentiment Signal: Buy
Current Market Cap: HK$130.3B
For an in-depth examination of 1801 stock, go to TipRanks’ Overview page.