ASCLETIS-B (01672) plans to issue approximately 9.9% of shares at a discounted price, raising a net total of 4.68 billion Hong Kong dollars.

date
19/08/2025
avatar
GMT Eight
Karlam Pharmaceuticals-B (01672) issued an announcement on August 19, 2025, regarding the completion of the seller (JJW...
ASCLETIS-B (01672) announced on August 19, 2025 that the Company, Seller Supplement (JJW12 Limited), and placement agents have entered into a placement and subscription agreement. Under the agreement, (i) the Seller Supplement has agreed to sell, and the placement agents have agreed to act as agents for the Seller Supplement to facilitate investors (professionals, institutions, corporations, or other investors) to purchase 524 million shares held by the Seller Supplement at a price of HK$16.45 per share, and (ii) the Seller Supplement has conditionally agreed to subscribe, and the Company has conditionally agreed to issue 28.82 million new shares at the placement price. It is expected that no investor will become a major shareholder of the Company following the completion of the placement and subscription. The directors have conducted all reasonable inquiries and are aware, knowledgeable, and confident that the investors and their ultimate beneficial owners are independent third parties. The total number of placement shares is 524 million, representing approximately 5.44% of the Company's issued shares as of the date of the announcement (9.64 billion shares, excluding 5.7842 million treasury shares). The number of subscription shares is 28.82 million, representing approximately 2.90% of the enlarged shares after the placement and subscription (excluding treasury shares) (assuming no changes in the issued shares from the announcement date to the completion of the placement and subscription). The placement price of HK$16.45 per share represents a discount of approximately 9.9% compared to the closing price per share of HK$18.26 on the last trading day of August 18, 2025, on the Hong Kong Stock Exchange. The subscription shares will be issued under general authorization. Following the completion of the placement and subscription, the Seller Supplement's equity will decrease from approximately 53.38% of the issued share capital (excluding treasury shares) to approximately 49.45%, and the total shareholding percentage of the controlling shareholder will decrease from approximately 62.21% of the issued share capital (excluding treasury shares) to approximately 58.03% after the issuance of subscription shares. The net proceeds from the subscription, after deducting commissions and estimated expenses, are expected to be approximately HK$468 million. It is proposed that approximately 90% of the net proceeds from the subscription will be used for the clinical trial research and development of obesity-related subcutaneous injection peptides and oral peptide candidate drugs, while approximately 10% will be used for operating funds and other general corporate purposes.