HK-listed ImmuneOnco Biopharma slumps on discounted share sale

ImmuneOnco Biopharmaceuticals (Shanghai)

21/11/2024 05:53

** Shares of ImmuneOnco Biopharmaceuticals Shanghai Inc
 1541.HK  slump 11.2% to HK$7.48, on course for the biggest
one-day pct decline since Oct. 14
    ** Stock on track to snap two consecutive sessions of gain
    ** The Chinese biotechnology group plans sale of 33.15 mln
new shares, representing 8.14% of the enlarged share capital, to
third party investors, raising HK$233.71 mln ($30.03 mln) to
fund clinical studies for treatment of solid tumors in China
    ** The new shares will be issued at HK$7.05 apiece, or
16.27% discount to Wednesday's close of HK$8.42 
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.1%,
while healthcare index  .HSCIH  and Hang Seng Index  .HSI  each
eases 0.3%
    ** Stock down 73.9% YTD

($1 = 7.7826 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))