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Xingke Rong Pharmaceutical (06833.HK) completes placing of 160 million shares with a net raise of HK $194.9 million

財華社 ·  {{timeTz}}


[Caihua Social News] Xingke Rong Pharmaceutical (06833.HK) announced that all the prerequisites set out in the placing Agreement (together with its supplementary agreement entered into by the Company and the placing Agent on December 30th, 2021) had been met and the completion had been implemented on January 3, 2022. In accordance with the terms and conditions of the placing Agreement, a total of 160 million placing shares have been allotted and issued to not less than six Placees at the placing Price of HK $1.29 per placing share.


After deducting the placing commission and other related expenses, the net proceeds from the placing is approximately HK $194.9 million. The Company intends to use approximately 40% (approximately HK $78 million) of the net proceeds from the placing for the development of polycaprolactone microsphere facial fillers for injection and its materials, while approximately 60% (approximately HK $116.9 million) of the net proceeds from the placing will be used for the strategic acquisition / development of new projects / products in the field of medical beauty, including, but not limited to, the acquisition of medical beauty institutions or investment in medical beauty projects and the development of new medical beauty products.

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