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CARsgen Therapeutics to Raise HK$462 Million via Top-Up Placement

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CARsgen Therapeutics (HKG:2171) is set to raise about HK$462 million in net proceeds through a top-up placement, according to a Friday Hong Kong bourse filing.

YIJIE Biotech Holding, a substantial shareholder, is selling 23.7 million existing shares to independent investors.

In turn, the company will issue the same number of new shares to YIJIE Biotech at the same price under its general mandate.

The placing price is set at HK$19.84 per share, representing a 9.5% discount to the last close and a 12.9% discount to the five-day average.

Net proceeds will be used for global clinical development of innovative drugs, equipment, and facility expenses for research and manufacturing, and working capital and general corporate purposes, the filing said.

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