Extrawell Pharmaceutical (00858) proposes to place up to 580 million shares at a premium of approximately 1.96%, raising net proceeds of approximately HK$29.4 million.

Zhitong Finance APP News, Jintian Pharmaceutical (00858) announces that on October 30, 2026, the Company intends to place up to 580 million placing shares, representing 20% of the Company's existing issued share capital as at the date of this announcement; and approximately 16.67% of the Company's issued share capital as enlarged by the issue of the placing shares. The placing price of HK$0.052 per placing share represents a premium of approximately 1.96% over the closing price of HK$0.051 per share on October 30. Assuming the maximum number of placing shares is placed under the placing agreement, the gross proceeds from the placing will be approximately HK$30.2 million, and the net proceeds will be approximately HK$29.4 million. It is expected that (a) approximately HK$9.8 million (representing approximately 33.33% of the maximum net proceeds) will be used to expand the Group's trading business in electronic modules and related products; and (b) approximately HK$19.6 million (representing approximately 66.67% of the maximum net proceeds) will be used by the Group to support the launch of its manufacturing, sales, and research and development business for electronic modules and related products.