Lates News

On the morning of August 28th, Kangfeng Bio announced on the Hong Kong Stock Exchange that the placement agent had conditionally agreed to offer and place 23.55 million primary placing shares at a price of HK$149.54 per share during the placement period. Assuming all primary placing shares are successfully placed, the estimated total and net proceeds from the primary placement are approximately HK$3.52167 billion and HK$3.49301 billion, respectively. 80% of the net proceeds from the placement will be used for the development of innovation research and development pipelines and platforms in global and China, as well as the construction of global and Chinese infrastructure. 10% will be used for the commercialization of existing approved products, and 10% will be used for general corporate purposes.