SKB BIO-B(06990.HK): Proposed Placing of 5.838 Million New H-Shares, Estimated Net Proceeds of Approximately HK$2.723 Billion
NewTimeSpace News: Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (06990.HK) announced that it entered into a placing agreement with the placing agents on 8 July 2026. The Company proposes to place 5,838,000 new H-shares at a placing price of HK$470.20 per share, representing a discount of approximately 8.52% to the closing price of HK$514 on the last trading day. The total gross proceeds will be about HK$2.745 billion, with estimated net proceeds of roughly HK$2.723 billion, to be deployed for product R&D, clinical trials, commercialisation and supplementing working capital.
NewTimeSpace News: Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. released an announcement dated 8 July 2026. Prior to trading hours on 8 July 2026, the Company entered into a placing agreement with placing agents including Goldman Sachs, Citi and JPMorgan. The Group proposes to place 5,838,000 new H-shares to no fewer than six placees at HK$470.20 per share. The placing shares account for approximately 2.50% of the Company’s existing issued share capital and around 2.44% of the enlarged issued share capital post placing.
The placing price represents:A discount of roughly 8.52% against the last trading day’s closing price of HK$514;A discount of approximately 3.66% versus the average closing price of HK$488.1 over the preceding five trading days.
After deducting relevant expenses, the estimated net proceeds amount to HK$2.723 billion, to be allocated as below:Approximately 80% (HK$2.179 billion): Product research and development, clinical trials, registration filing, manufacturing and commercialisation;Approximately 15% (HK$409 million): Upgrade internal R&D technical capabilities and expand product pipeline;Approximately 5% (HK$136 million): Supplement working capital and for general corporate purposes.
The placing shares will be issued under the general mandate and do not require separate shareholders’ approval. The Company has submitted an application to seek listing and trading permission for the placing shares. Completion of the placing is conditional upon satisfaction of preconditions including approval from the Listing Committee of the Stock Exchange of Hong Kong Limited.
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