HANSOH PHARMA (03692) announced that on August 20, 2025 (before trading hours), the company, the overall coordinator, and the placing agent entered into a placing agreement. Under this agreement, the company agrees to appoint the placing agent, and the placing agent agrees to act as placing agents (severally and not jointly or jointly and severally) on behalf of the company to procure placees or, failing which, to subscribe for themselves 108 million placing shares at a placing price of HK$36.30 per placing share, in accordance with and subject to the terms and conditions set out in the placing agreement.
The number of placing shares represents approximately 1.78% of the enlarged total number of issued shares upon completion of the placing (assuming that the total number of issued shares remains unchanged from the date of this announcement to the completion date, save for the issue of the placing shares by the company).
The placing price is HK$36.30 per placing share, representing: (i) a discount of approximately 6.49% to the closing price of HK$38.82 per share as quoted on the Stock Exchange on August 19, 2025 (being the day immediately preceding the date of the placing agreement).
The net proceeds from the placing (after deducting placing commission, levies and transaction fees) amount to approximately HK$3.897 billion. Based on this calculation, the net price per placing share will be approximately HK$36.08.
The company plans to utilize the net proceeds from the placing in the following manner: (i) approximately 65% will be used for (a) research and development of new innovative drugs in therapeutic areas including oncology, autoimmune diseases, central nervous system disorders and metabolic diseases, and (b) licensing of innovative drugs and innovative technology platforms; (ii) approximately 25% will be used for (a) construction of new innovative drug manufacturing facilities and research and development laboratories, and (b) upgrading the group's existing research and development laboratories and production facilities; and (iii) approximately 10% will be used for working capital and other general corporate purposes.