BUZZ-China's ImmuneOnco drops most in 6 months on discounted share sale
Reuters
Oct 09
BUZZ-China's ImmuneOnco drops most in 6 months on discounted share sale
** Shares of ImmuneOnco Biopharmaceuticals Shanghai 1541.HK drop 13.5% to HK$14.41, on course for their biggest one-day pct decline since April 7
** The China-based tumor immunotherapy developer plans sale of 24.2 mln new shares to third party investors in share placement, raising HK$350.9 mln ($45.10 mln) for R&D of therapy for treatment of solid tumors in China, among others
** The new shares will be issued at HK$14.50 apiece, or nearly 13% discount to Wednesday close of HK$16.66 each
** YTD, stock up 180.8%, Hang Seng Biotech Index .HSBIO up 104.6%
($1 = 7.7806 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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