CF PHARMTECH (02652) has announced the appointment of a placing agent on July 31, 2026, to facilitate the subscription of 21.7477 million new H-shares by no fewer than six placees at a placing price of HKD 13.82 per H-share, subject to the terms and conditions of the placing agreement. The placing shares represent approximately 7.23% of the issued H-shares and about 5.30% of the total issued shares. After the issuance of the placing shares, they will account for roughly 6.74% of the enlarged issued H-shares and approximately 5.03% of the total enlarged issued shares.
Assuming all placing shares are fully subscribed, the total gross proceeds and net proceeds from the placement are expected to be approximately HKD 301 million and HKD 295 million, respectively. Based on this, the net issue price per placing share is estimated at around HKD 13.56.
The company plans to utilize the net proceeds as follows: approximately 70% will be allocated for clinical and preclinical development of the group's innovative drug candidates; about 15% will be used for CMC research, clinical studies, device development, and registration and regulatory filing expenses for the group's complex inhalation formulation products globally (including CF048, CF059/CF060, CF066 EDS, CF067, CF068, and CF011/CF088); and the remaining 15% will be directed toward working capital and general corporate purposes, primarily covering recruitment and retention of R&D personnel, operating costs of the group's R&D facilities, and other general administrative and operational expenses.
Comments