On May 24, GLONGHUI | Lepu Bio-B (02157.HK) announced that all conditions of the placement matters contained in the placement agreement (including (including) approval by the Listing Committee for the listing and trading of the placement shares) have been met, and the placement was completed on May 24, 2024.
The company has successfully placed a total of 51.17 million shares at the placement price of HK$4.58 per share to no less than six undertakers, accounting for approximately 3.09% and 2.99% of all issued H shares and all issued shares after the expansion of the allotted shares issued and issued, respectively.
The total proceeds from the placement process and the total net proceeds will be approximately HK$2.34 billion and approximately HK$230 million respectively. The net proceeds from the placement (i) approximately 70% (or HK$161 million) will be used for R&D, clinical trials, registration and other work processes of the company's ADC candidate products; (ii) approximately 20% (or HK$45.95 million) will be used for clinical trials and other work processes of the company's oncolytic virus candidate CG0070; and (iii) approximately 10% (i.e. HK$22.98 million) will be used to supplement the company's working capital and for general corporate purposes.