Innovent Biologics Inc logo

1801 - Innovent Biologics Inc News Story

HK$34.1 0.9  2.6%

Last Trade - 8:08am

Sector
Healthcare
Size
Large Cap
Market Cap £4.20bn
Enterprise Value £3.90bn
Revenue £38.8m
Position in Universe 282nd / 5984

BUZZ-HK-listed Innovent Biologics falls on discounted share sale plan

Fri 4th October, 2019 3:15am
** Shares of Innovent Biologics Inc  1801.HK  fall as much
as 5.9% to HK$24.85 
    ** Hong Kong-listed biopharmaceutical company plans sales of
up to HK$2.45 bln ($312.5 mln) shares at a discount
    ** Co is selling 97 mln primary shares in a top-up
placement, or 7.7% of the enlarged share capital, in an
indicative price range of HK$24.30–$25.35 per share  urn:newsml:reuters.com:*:nL3N26O224
    ** Price range represents discount of 3.98%–7.95% to
Thursday's close of HK$26.40 
    ** Jiangsu-based co says proceeds will be used to fund
development of key pipeline products, for capacity expansion and
general corporate use (https://bit.ly/30Q8HAA)       
    ** Stock the most actively traded in early morning, and is
on track to end two straight sessions of gains
    ** As of Thursday's close, stock had risen 9.5% this year 
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.2%, and the benchmark index  .HSI  gains 0.1%
    ($1 = 7.8410 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)
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