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Kintor Pharmaceutical Ltd ( (HK:9939) ) has issued an update.
Kintor Pharmaceutical Ltd has entered into an agreement to issue 30,487,500 new shares to a subscriber wholly owned by China-Singapore Suzhou Industrial Park Ventures Co., Ltd. The shares are priced at HK$1.64 each, representing a discount to recent trading prices. This subscription will raise approximately HK$49.78 million, which the company plans to use for general working capital and the phase III clinical trial of its product KX-826. The transaction will increase the subscriber’s and Origin VC’s combined stake in Kintor to 10.49% of the issued share capital. The completion of this subscription is contingent upon certain conditions being met, and stakeholders are advised to exercise caution.
More about Kintor Pharmaceutical Ltd
Kintor Pharmaceutical Ltd is a company incorporated in the Cayman Islands, primarily focused on the pharmaceutical industry. The company is engaged in the development and commercialization of innovative therapies, with a particular emphasis on advancing clinical trials for its products.
Average Trading Volume: 4,105,750
Technical Sentiment Signal: Hold
Current Market Cap: HK$848.2M
For an in-depth examination of 9939 stock, go to TipRanks’ Overview page.