yojucasino| Lepu Bio-B's share price fell 12%: proposed placement of new H shares to raise HK$230 million

News summary

Lepu Bio-B's share price plunged more than 12% in intraday tradingyojucasino, hit a new low in the month, triggering market attention. The company announced the placement of H shares to raise funds 2yojucasino.30 million Hong Kong dollars, and plans to invest the proceeds mainly in the research and development of ADCs and oncolytic viruses.

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Lepu Bio-B's share price fell sharply

Lepu Bio-B (02157) experienced a decline of more than 12% during the trading day, hitting a low of 4.yojucasino23 Hong Kong dollars, down more than 35% from this month's high of HK$6.5. As of writing time, the stock fell 7.52% to close at HK$4.55, with single-day turnover reaching HK$35.7443 million.

The company previously announced that it plans to add up to 51.17 million new H shares through placement, accounting for 2.99% of the company's enlarged share capital and 3.09% of H shares. The placing price per share is set at HK$4.58, a 13.09% discount to the closing price of HK$5.27 for H shares on May 16. The net proceeds are expected to be approximately HK$230 million.

Lepu Bio-B plans to use approximately 70% of the proceeds from the placement for the development of its antibody drug conjugate (ADC) candidate products, including research and development, clinical trials, registration and filing, etc.yojucasino; About 20% of the funds will be used for clinical trials and other related work of the oncolytic virus candidate product CG0070; the remaining approximately 10% will be used to supplement working capital and general corporate purposes.