China's Jacobio hits 9-mth high on share sale for clinical trials

Jacobio Pharmaceuticals

10/02/2023 02:53

** Shares of Chinese tumor therapies developer Jacobio
Pharmaceuticals Group Co Ltd  1167.HK  rise as much as nearly 9%
to HK$8.50, their highest since May 23, 2022 
    ** Beijing-based company plans sales of 22.10 mln new shares
to its chairman Yinxiang Wang-controlled Yakovpharma Ltd
    ** It is raising HK$160.4 mln ($20.43 mln) to fund clinical
trials and for research and development of pre-clinical pipeline
products
    ** Says new shares will be issued at HK$7.26 each, or a
discount of 6.9% from Thursday's close of HK$7.80 each
    ** Yakovpharma will buy the new shares following sales of
the same amount of existing shares at the same price to third
party investors
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.8% and the healthcare index  .HSCIH  drops 3.4%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both fall 1.3%
    ** As of last close, the stock had surged 49.1% this year 
($1 = 7.8497 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))