Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (SKB BIO) has closed its previously announced H-share placement, issuing 5.84 million new shares at HK$470.20 each. All terms under the placing agreement were met on 10 July 2026, with Goldman Sachs, Citigroup and J.P. Morgan acting as placing agents.

The transaction generated net proceeds of approximately HK$2.72 billion after fees. Management intends to allocate 80% (HK$2.18 billion) to ongoing product R&D, clinical trials, regulatory filings, manufacturing and commercialisation; 15% (HK$408.50 million) to strengthen internal R&D platforms, external collaborations and pipeline expansion; and 5% (HK$136.20 million) to working capital and general corporate purposes.

Post-placement, the company’s issued share capital increased to 239.02 million shares from 233.19 million. Kelun Pharmaceutical’s holding fell from 64.10% to 62.53%, while the new placees collectively hold 2.44%. No placee or associate has become a substantial shareholder under HKEX rules.

Concurrent with the share issue, SKB BIO amended its Articles of Association to reflect a registered capital rise to RMB239.02 million and an H-share count of 176.82 million.

All newly issued shares were placed with at least six independent investors; none of the company’s 435,064 unvested RSUs were exercised in connection with this transaction.