Luye Pharma Unit to Raise $150 Million via Boan-Linked Exchangeable Shares

MT Newswires Live

2025/11/21

Luye Pharma Group (HKG:2186) said a wholly owned unit has agreed to issue $150 million in exchangeable preference shares to an independent subscriber, according to a Friday Hong Kong bourse filing.

The shares, priced at $100 each, can be exchanged into Boan Biotech (HKG:6955) shares at an initial exchange price of HK$11.718. Upon full exchange, Boan Biotech would cease to be a subsidiary, the filing said.

The issuer will transfer 100.5 million Boan Biotech shares into a custodian account within 15 business days of completion to support future exchanges.

Dividends on the preference shares are fixed at 4.75% per annum, it added.

Luye said issuing the instruments provides immediate funding while enabling a gradual monetization of its Boan Biotech stake at a premium to market levels.

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