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New Ray Medicine International Holding Ltd. ( (HK:6108) ) has provided an announcement.
New Ray Medicine International Holding Limited has completed a share placing under its general mandate, issuing 33.43 million new shares at HK$0.225 each to at least six independent investors, representing about 16.66% of the enlarged share capital and raising approximately HK$7.4 million in net proceeds. The company plans to deploy all of the funds raised to acquire additional distribution rights for its core pharmaceutical distribution business, a move that modestly dilutes existing shareholders but is intended to strengthen its product portfolio and expand its market reach without any new substantial shareholder emerging from the transaction.
More about New Ray Medicine International Holding Ltd.
New Ray Medicine International Holding Limited is a Hong Kong-listed pharmaceutical distributor focused on the sale and distribution of medical products, with its core business centered on acquiring and operating distribution rights within the healthcare sector.
Average Trading Volume: 191,671
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$40.46M
For a thorough assessment of 6108 stock, go to TipRanks’ Stock Analysis page.