Kelun Pharmaceutical to Use Idle Funds Worth 1.25 Billion Yuan

MT Newswires Live

2025/09/05

Sichuan Kelun Pharmaceutical (SHE:002422) plans to use idle proceeds worth 1.25 billion yuan to temporarily supplement working capital for up to 12 months, according to a Shenzhen bourse filing on Friday.

The funds are part of the 2.98 billion yuan raised for 3 billion convertible bonds issued in 2022. The funds became idle after terminating certain projects where the funds were intended.

The Chinese pharmaceutical company opened special fundraising accounts at Industrial Bank (SHA:601166) and Bank of China (SHA:601988, HKG:3988) branches to regulate the management of the funds.

Changjiang Securities Underwriting and Sponsorship will designate representatives to supervise the use of the proceeds.

The company jumped over 2% during afternoon trade.

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