[ET Net News Agency, 5 August 2020] Alibaba Health Information Technology Limited
(00241) said the company has entered into a placing agreement with the placing agents in
relation to the placing of an aggregate of 498.75 million new shares at the placing price
of HK$20.05 per placing share
The placing price represents a discount of approximately 8.03% to the closing price of
HK$21.80 per share on 4 August 2020. The placing shares represent approximately 3.71% of
the total issued share capital of the company as enlarged.
The aggregate gross proceeds are expected to be approximately HK$10 billion and the
aggregate net proceeds are expected to be approximately HK$9.96 billion.
It is expected that (a) approximately 80% to 90% of the net proceeds will be used to
further develop the group's pharmaceutical and healthcare omni-channel business and
medical and healthcare services business, including, but not limited to, expanding the
group's pharmaceutical and medical services network, enriching member services and
user-focused content; and (b) approximately 10% to 20% of the net proceeds will be used to
further develop the group's digital infrastructure and innovative business, including, but
not limited to, expanding the range of internet and technological solutions provided to
healthcare industry participants. (RC)