New Ray Medicine International (HKG:6108) is looking to raise maximum net proceeds of HK$7.4 million from the placement of over 33.4 million shares to at least six investors at HK$0.225 apiece, a Dec. 5 Hong Kong bourse filing said.
Shares of the pharmaceutical company were up 16% in Monday afternoon trading.
The shares represent 16.66% of the firm's enlarged issued share capital.
The company will use proceeds to acquire additional distribution rights for its core business.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments