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Venus Medtech Plans 500 Million Yuan Share, Convertible Bond Subscription

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Venus Medtech (HKG:2500) entered into a subscription agreement with Hangzhou Yingzhiqin No. 3 Equity Investment Partnership for up to 500 million yuan of new shares and convertible bonds, according to a Thursday Hong Kong bourse filing.

The deal comprises 184.5 million new shares for about 171.9 million yuan and convertible bonds of up to HK$379.7 million.

The subscription price is HK$1.078 per share, while the initial conversion price is HK$1.1858.

The company said the fundraising will help address liquidity needs, meet near-term financial obligations, and support operations and product development.

The subscription remains subject to shareholder and other regulatory approvals.

What else is happening in Asia?

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