Rongchang Biotech (09995) announced that on March 29, 2024, the board of directors passed a resolution recommending general teaching...
Zhitong Finance App News, Rongchang Biotech (09995) announced that on March 29, 2024, the board of directors passed a resolution recommending issuing no more than 707.6317 million A shares (including capital) to no more than 35 specific targets (including 35) within the general grant limit. The proceeds are expected to not exceed RMB 2.55 billion (including this amount). The proposed issuance must be approved by shareholders at the Extraordinary General Meeting of Shareholders, reviewed and approved by the Shanghai Stock Exchange, and registered by the China Securities Regulatory Commission before it can be implemented.
According to the announcement, the proceeds from the proposed issuance will accelerate the R&D process of the company's innovative drugs, enhance the synergy between the company's pre-clinical research and clinical research, expand the depth and breadth of its product development, and lay a solid foundation for commercializing more products. At the same time, through this launch, the company will use the capital market platform to enhance capital strength, relieve liquidity pressure, and improve resilience to risks.