On July 13, Kelun-Biotech Biopharmaceutical fell 3.1% in regular trading, trading at HK$489.2/share, with turnover of HK$208 million. The decline represents a technical correction following a sharp 8.74% rally on July 10 when the company completed its share placement.

On the news front, Kelun-Biotech completed the placement of 5.838 million new H shares on July 10 at HK$470.20 per share, representing an approximately 8.52% discount to the pre-placement closing price of HK$514.0. The placement, arranged by Goldman Sachs, Citigroup, and J.P. Morgan, was distributed to no fewer than six independent placees, raising net proceeds of approximately HK$27.23 billion. Approximately 80% of proceeds will fund R&D, clinical trials, and commercialization, while 15% will be allocated to expanding pipeline capabilities and external collaborations.

Post-placement, total issued shares increased to approximately 239 million, with parent company Kelun Pharmaceutical retaining approximately 52.11% ownership. The current pullback follows the stock's rapid recovery from the placement discount level to HK$516.5 in a single session.

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