[ET Net News Agency, 17 January 2020] Sinopharm Group Co. Ltd. (01099) said the company
has agreed to the placing of a maximum of 149 million new H shares at the placing price of
HK$27.30 per H share.
The maximum of 149 million placing shares represent 12.5% and 5.0%, respectively, of the
existing total issued H shares and the total issued share capital of the company; and
11.1% and 4.8%, respectively, of the total issued H shares and the total issued share
capital of the company as enlarged by the issue. The placing price of HK$27.30 per H share
represents a discount of approximately 7.3% to the closing price of HK$29.45 per H share
on 16 January 2020.
The maximum amount of net proceeds will be approximately HK$4,021.5 million. The company
intends to use the net proceeds for the expansion of pharmaceutical distribution, retail
network and medical device business as well as improvement of working capital after the
expansion. (RC)
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01099 SINOPHARM
Nominal 
21.550 -0.200 (-0.920%) Others
17/01/2020 09:02
Sinopharm (01099) to place new H shares for HK$4,021.5m
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