Shandong Boan Biotechnology, an offshoot of Luye Pharma (2186), has passed its main board listing hearing at the Hong Kong Stock Exchange while Kintor Pharmaceutical (9939) will have a share placement to raise more than HK$500 million. Boan was reported to have raised US$200 million (HK$1.56 billion), while its net interim loss widened 20 percent yearly to 153.3 million yuan (HK$171.58 million). Meanwhile, Kintor Pharmaceutical announced a placement of 42 million shares at a price of HK$12.94 apiece, or 9.8 percent lower than the closing price of HK$14.34 last Friday. The co-founder and chairman, Tong Youzhi, will sell the 42 million shares and then issue 40 million new shares on behalf of the company, both of which are at the offered price. After the placement, the stake held by Tong will be reduced to 9.1 percent from 10.4 percent, cashing in HK$25.88 million.

Source: The Standard December 12, 2022 01:15 UTC