GenFleet Therapeutics Issues Nearly 13.4 Million Shares on Full Exercise of IPO Overallotment Option
MT Newswires Live
Yesterday
GenFleet Therapeutics (Shanghai) (HKG:2595) said the overallotment option from its Hong Kong IPO has been fully exercised, resulting in the issue of nearly 13.4 million H shares at HK$20.39 each, according to a Thursday bourse filing.
Shares of the firm rose nearly 4% in midday trading on Friday.
The additional shares, representing about 15% of the total offer size, will generate net proceeds of roughly HK$260.6 million after expenses.
The funds will be used on a pro rata basis for purposes previously disclosed in its prospectus, the filing said.
After the full exercise, the company's public float increased to 73%, above the minimum requirement under HKEX rules.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.