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KNTPF - Kintor Pharma Raises $65 Million For Drug Commercialization
Kintor Pharmaceutical Ltd.
Summary
Kintor Pharmaceutical Ltd. announced on Sunday that it will place 42 million shares, representing approximately 10.3% of its enlarged capital after the issue.
Pursuant to the placement agreement, the company’s co-founder, Chairman and CEO Tong Youzhi first sold 42 million of his own shares to the new buyers.
Kintor’s shares plunged on Monday and closed down 12.3% at HK$12.58 by the midday break, falling below the HK$12.94 share placement price.