Innovent Biologics Inc. has announced the successful completion of a placement of new shares under a general mandate. The transaction has resulted in net proceeds of approximately HK$4,265.4 million. This financial move allows the company to allot, issue, and deal with up to 193,010,358 shares following the placement. The initiative was authorized by an ordinary resolution passed at the company's annual general meeting. Innovent Biologics' board, led by Chairman and Executive Director Dr. De-Chao Michael Yu, confirms that the placees and their ultimate beneficial owners are independent third parties. Further details on the use of the proceeds can be found in the official company announcement.
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