On July 14, Kelun-Biotech fell 3.17% in regular trading, trading at HK$500.5/share, with turnover of HK$135 million.

On the news front, the company completed a 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. Net proceeds totaled approximately HK$2.723 billion. The stock surged 8.74% to HK$516.5 on the completion date but has since undergone consecutive sessions of technical correction. Post-placement, total issued shares increased to approximately 239 million, with parent Kelun Pharmaceutical retaining approximately 52.11% ownership.

Approximately 80% of the proceeds will fund R&D, clinical trials, registration filings, manufacturing and commercialization, with 15% allocated to enhancing internal capabilities and external collaboration, and 5% for working capital. The broader biotech sector remained under pressure, with INNOVENT BIO up 0.51%, BEIGENE down 0.32%, AKESO down 0.16%, REMEGEN down 1.65%, and 3SBIO down 2.97%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)