Biotech company RemeGen announces 19 million H-share placements at discount

Biopharmaceutical company RemeGen (9995) on Thursday announced a placement of 19 million H-shares priced at HK$42.44 per share.

The net proceeds from the placement is estimated at HK$796 million.

The pricing represents a discount of 9.5 percent to its closing price of HK$46.90 per share on Wednesday.

The proceeds will be used for investment in research and development of the core product, Telitacicept (RC18).

STAFF REPORTER