HK-listed Shandong Boan falls on discounted share sale

Shandong Boan Biotechnology

04/06/2025 05:37

** Shares of Shandong Boan Biotechnology 6955.HK fall 6.6% to HK$11.3, on course for biggest one-day pct drop since  May 7

** Stock is the second biggest pct loser on healthcare index .HSCIH, which is up 3.1%

** The Chinese therapeutic antibodies producer plans sale of 38.4 mln new shares, or 6.69% of enlarged share capital, in a share placement, raising HK$400 mln ($51 mln) for R&D and commercialization of products

** The shares will be issued at HK$10.42 apiece, or 13.9% discount to Tuesday's close of HK$12.10 each

** Hang Seng Biotech Index .HSHKBIO rises 3.4%, Hang Seng Index .HSI adds 0.7%

** YTD, stock up 29.7%

($1 = 7.8462 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))