On December 26, Hengrui Pharmaceuticals (SHA: 600276) held its second extraordinary general meeting of 2024, where the primary agenda was to discuss the company’s proposal to issue H shares and list them on the Hong Kong Stock Exchange (HKEX).
Landmark Approval for H-Share Issuance
The outcome of the deliberation was overwhelmingly positive, with 99.7% of shareholders in favor of the “company’s issuance of H shares and listing on the Hong Kong Stock Exchange” proposal. This significant level of approval demonstrates the shareholders’ confidence in Hengrui Pharmaceuticals’ strategic move to expand its capital market presence.
Details of the H-Share Issuance
Hengrui Pharmaceuticals also stated that the number of H shares to be issued will not exceed 10% of the company’s total share capital post-issuance. The specific issuance price will be determined based on market conditions, reflecting the company’s responsiveness to the dynamics of the capital market. The funds raised from this issuance will be allocated towards research and development, product commercialization, and general corporate operations, underlining Hengrui Pharmaceuticals’ commitment to innovation and growth.-Fineline Info & Tech
