Hansoh Pharmaceutical (03692.HK) Drops Over 5% Amid Announcement of HK$4.68 Billion Zero-Coupon Convertible Bond Offering

Hansoh Pharma(03692) Falls More Than 5% Again, Down 4.37% at Press Time, Closing at HKD 38.48, with a Turnover of HKD 69.4528 Million.

On the news front, Hansoh Pharma announced a proposed issuance of zero-coupon convertible bonds maturing in 2033, with an issue size of HKD 4.68 billion. The conversion price is set at RMB 57.39, representing a premium of approximately 42.62% over the closing price of the last trading day. The net proceeds are expected to be around HKD 4.64 billion, of which approximately 65% will be used for drug research and development and licensing; around 25% will be allocated for the construction of new R&D centers and production lines as well as the upgrading of existing facilities; and about 10% will be utilized for working capital and other general corporate purposes.