Asia
CF PharmTech Eyes HK$295 Million from Share Placement
CF PharmTech (HKG:2652) agreed to place up to over 21.7 million new Hong Kong-listed shares to raise net proceeds of HK$294.8 million.The shares will be issued to at least six investors at HK$13.82 apiece, according to a Friday Hong Kong bourse filing.The shares represent around 6.74% of the company's Hong Kong-listed shares and 5.03% of its total shares as enlarged by the placement.The pharmaceutical firm will use proceeds for the clinical and pre-clinical development of its innovative drug candidates, the development of its complex inhalation formulation products globally, and for working capital and general corporate purposes.
HKG:2652
