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SinoMab Bioscience Ltd. ( (HK:3681) ) has provided an update.
SinoMab Bioscience Ltd. announced the conditional agreement to issue 182,072,400 new shares to 23 subscribers at a subscription price of HK$2.03 per share, representing a significant discount to recent trading prices. This move, which does not require shareholder approval, is expected to raise approximately HK$369.46 million in net proceeds, which the company plans to utilize for strategic purposes. The issuance of these shares will expand the company’s share capital by approximately 13.13%, potentially impacting its market positioning and offering new opportunities for growth.
More about SinoMab Bioscience Ltd.
SinoMab Bioscience Ltd. is a biotechnology company based in Hong Kong, focusing on the development and commercialization of therapeutics for the treatment of immunological diseases. The company operates within the pharmaceutical industry, emphasizing innovative solutions to address unmet medical needs.
Average Trading Volume: 12,818,125
Technical Sentiment Signal: Buy
Current Market Cap: HK$3.14B
Learn more about 3681 stock on TipRanks’ Stock Analysis page.