Giant Biogene Places 33.2 Million Shares for About HK$1.63

MT Newswires Live05-27

Giant Biogene Holding (HKG:2367) successfully placed 33.2 million shares for about HK$1.63 billion to six placees, according to a Friday filing on the Hong Kong bourse.

The average price for the Subscription after subtracting the commissions and estimated expenses is estimated to be roughly HK$48.97 per Subscription Share.The subscription shares represent about 3.23% of the total share capital.

90% of the proceeds will go to further developing the core business, including promotion, marketing, and research and development. The remaining will help replenish liquidity and be used for general corporate purposes.

Price (HKD): $49.70, Change: $-0.30, Percent Change: -0.60%

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