HLB Pharmaceutical’s Rights Offering Draws 2,880% Subscription Rate; New Shares to List Next Month

The public offering subscription rate for HLB Pharmaceutical’s shareholder-allotted rights offering reached 2,880%.

HLB Pharmaceutical disclosed the results of the public offering subscription through the electronic disclosure system on the 17th. The public offering subscription period ran from the 15th through the 16th.

The rights offering will issue a total of 10,762,332 shares. In the subscription by existing shareholders, 9,839,398 of the 10,762,332 shares offered were subscribed, for a subscription rate of 91.42%.

A total of 26,581,654 shares were subscribed in the public offering for the 922,934 unsubscribed shares remaining after the existing shareholders’ subscription. These included 24,196,654 shares from general investors, 1.77 million shares from high-risk, high-return investment trusts and 615,000 shares from venture company investment trusts.

The resulting public offering subscription rate was 2,880.13%. The cumulative number of shares subscribed, combining the existing shareholders’ and public offering subscriptions, was 36,421,052, for a subscription rate of 338.41%.

The refund and payment date is the 18th, and the new shares are scheduled to list Oct. 7.