Nanjing Leads Biolabs Raises HK$183 Million from Full Exercise of Overallotment Option in Hong Kong IPO
MT Newswires Live
Aug 07
Nanjing Leads Biolabs (HKG:9887) said the underwriters of its Hong Kong listing fully-exercised their overallotment option, according to a Hong Kong bourse filing Thursday.
Shares of the biotech company jumped over 2% in recent trade.
The company will issue a further 5,529,300 shares at HK$35 apiece to raise HK$183.8 million.
Funds will be funneled toward the company's ongoing and planned clinical development and regulatory affairs, advancement of its preclinical assets, commercialization of its drug candidates, and for working capital and general corporate purposes.
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