Coron Pharma: Holding subsidiary Coron Botai plans to raise HK$1.943 billion through rights issue.

On the afternoon of June 5th, Colen Pharmaceutical announced that its controlling subsidiary, Colen Botai, recently entered into a placement agreement with two placement agents in accordance with the general issuance authorization of its shareholder meeting. According to the agreement, the placement agents agreed to facilitate the placement of 5.918 million shares of Colen Botai's H shares to no fewer than 6 placement persons at a price of HK$331.8 per share. The completion of this placement depends on the fulfillment of several conditions precedent as stipulated in the placement agreement. The net proceeds from this placement are expected to be HK$1.943 billion, which will be used for Colen Botai's product research and development, clinical trials, registration filing, manufacturing, and commercialization; enhancement of internal research and development capabilities, strengthening of external collaborations, and expansion of product pipeline portfolio; as well as supplementing working capital and for general corporate purposes.