By Fineline Cube 
China-based Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (HKG: 6990) announced the successful placement of 5,918,000 new H-shares under a general mandate. This represents approximately 2.54% of the company’s total enlarged share capital. Priced at HKD 331.8 per share, the offering generated net proceeds of approximately USD 250 million, marking the largest follow-on equity offering in Hong Kong’s biopharmaceutical sector over the past 12 months.
Funding Allocation
The net proceeds will primarily be allocated to product research and development (R&D) and clinical trials. This includes regulatory filings and commercialization efforts, as well as enhancing internal R&D capabilities. The company also plans to strengthen external collaborations and expand its product pipeline portfolio.-Fineline Info & Tech