Summary by Moomoo AI
Wing Cheong Biopharmaceuticals (Yantai) Co., Ltd. (“Wing Cheong Biologics”) announced on 29 March 2024 that its Board of Directors has adopted a resolution proposing to issue no more than 70,763,170 shares of A-shares to no more than 35 specific entities within the general authorization limit, with an expected raising of not more than RMB2,550 million. The proposed issuance is subject to shareholder approval at the Extraordinary General Meeting and subject to approval by the Shanghai Stock Exchange and registration with the approval of the China Securities and Exchange Commission. The specific target audience of the proposed issue includes investors who meet China Securities Regulatory Commission requirements and will subscribe for the same price in RMB cash. The net proceeds will be used for new...Show More