HK Stock Market Move | CANBRIDGE-B (01228) rose more than 4% in the afternoon. The company has completed the issuance of shares to its subsidiary WUXI BIO.
Huabei Kangcheng-B (01228) rose more than 4% in the afternoon, as of the deadline, up 4% to HK $2.6, with a turnover of HK $1.5938 million.
CANBRIDGE-B (01228) rose more than 4% in the afternoon, rising 4% to 2.6 Hong Kong dollars as of the time of publication, with a turnover of HK$1.5938 million.
On the news front, Beihai Kangcheng has completed the issuance of a total of 84.0336 million subscribed shares. The company had previously announced a share placement to a subsidiary of WUXI BIO. After the placement, WUXI BIO's stake in Beihai Kangcheng will increase to approximately 16.27%.
The announcement stated that the net proceeds from the share placement of approximately HK$199 million, with about 12% to be used for operational funds and registration maintenance of commercialized products; 28% for research and development expenses of existing product lines; and 60% for settling trade payables of the group.
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