Changfeng Pharmaceutical (02652) plans to place 21.747,700 new H shares to raise approximately HK$295 million

According to the Zhitong Finance App, Changfeng Pharmaceutical (02652) announced that on July 31, 2026, the company will appoint placement agents to induce no less than 6 undertakers to subscribe for 21.7477 million new H shares at an placement price of HK$13.82 per H share in accordance with the terms set forth in the placement agreement and subject to its terms and conditions. Placed shares are equivalent to about 7.23% of the issued H shares and about 5.30% of the total number of issued shares, and about 6.74% of the issued H shares and about 5.03% of the total number of issued shares expanded due to the allocation and issuance of the placed shares.

Assuming that all placed shares are fully placed, the total proceeds from the placement and the net proceeds are expected to be approximately HK$301 million and approximately HK$295 million, respectively. On this basis, the net issue price for each placed share would be approximately HK$13.56. The company plans to use the net proceeds from the distribution in the following ways: about 70% for clinical and pre-clinical development of the Group's innovative drug candidates; about 15% for CMC research, clinical research, drug delivery device development, registration and regulatory reporting expenses for the Group's complex inhalation products (including CF048, CF059/CF060, CF066 EDS, CF067, CF068 and CF011/CF088) on a global scale; and about 15% for working capital and general corporate purposes, mainly for recruitment and retention of R&D personnel, group The operating costs of R&D facilities and other general administrative and operating expenses of the Group.