HK-listed Hua Han Bio-Pharmaceutical to raise $400M-plus in open offer

Hong Kong-listed Hua Han Bio-Pharmaceutical Holdings said Wednesday it will raise HK$3.19 billion to HK$3.39 billion ($412 million to $437 million) from an open offer on the basis of one offer share for every two existing shares.

At HK$1.30 per share, the open offer is a 43% discount from the last closing price of HK$2.30, with the estimated net proceeds of HK$3.14 billion slated to fund investments in medical services-related business.

Biotech- and pharma-related listings, open offers and venture capital plays in Asia are getting a bit more attention, though innovative sompanies are still scarce on leading bourses.

- here's the Hua Han release