New Ray Medicine Announces HK$0.225 Share Placement Under General Mandate

Reuters
Dec 05
New Ray Medicine Announces HK$0.225 Share Placement Under General Mandate

New Ray Medicine International Holding Ltd. has announced the placing of up to 33,432,000 new shares under a general mandate at a price of HK$0.225 per share. The placement, managed by Cheong Lee Securities Limited, is expected to raise gross proceeds of approximately HK$7.5 million, with net proceeds estimated at around HK$7.4 million after expenses. The company stated that the funds will strengthen its financial position, provide additional working capital, and help broaden its shareholder and capital base.

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