EXTRAWELL PHAR (00858) surged over 13% during trading sessions. As of press time, the stock was up 13.56% to HK$0.134, with a turnover of HK$2.323 million.
On the news front, EXTRAWELL PHAR announced that on August 14, 2025 (after trading hours), the company entered into Subscription Agreement I with Subscriber I. Under this agreement, Subscriber I has conditionally agreed to subscribe for, and the company has conditionally agreed to allot and issue, an aggregate of 30 million subscription shares I at a subscription price totaling HK$2.91 million (equivalent to HK$0.097 per subscription share I). The subscription under Subscription Agreement I is subject to fulfillment of Conditions I.
On August 14, 2025 (after trading hours), the company also entered into Subscription Agreement II with Subscriber II. Under this agreement, Subscriber II has conditionally agreed to subscribe for, and the company has conditionally agreed to allot and issue, an aggregate of 20 million subscription shares II at a subscription price totaling HK$1.94 million (equivalent to HK$0.097 per subscription share II). Subscription II is subject to fulfillment of Conditions II.
Additionally, on August 14, 2025 (after trading hours), the company entered into Subscription Agreement III with Subscriber III. Under this agreement, Subscriber III has conditionally agreed to subscribe for, and the company has conditionally agreed to allot and issue, an aggregate of 110 million subscription shares III at a subscription price totaling HK$10.67 million (equivalent to HK$0.097 per subscription share III). Subscription III is subject to fulfillment of Conditions III.
The company intends to use the net proceeds from the subscriptions for potential new business development in the group's healthcare products, equipment and technology trading, manufacturing, sales and distribution business in China, and to expand business opportunities related to the healthcare sector to overseas markets. Meanwhile, the group will continue to maintain and develop its existing pharmaceutical business through allocation of its existing internally generated cash resources.