TEDA BIOMEDICAL (08189) plans to issue 18.46% of shares at a maximum net raise of around HK$63 million.

TEDA BIOMEDICAL (08189) announced that on January 16, 2025, the company plans to issue a maximum of 239.4 million shares through a placement agent to no fewer than 6 underwriters at a price of HK$0.265 per share, representing a discount of approximately 18.46% compared to the closing price of H shares on the Hong Kong Stock Exchange of HK$0.325 per share on that day. Assuming all the shares are successfully placed, the net proceeds from the placement are expected to be approximately HK$63 million. The company plans to use the proceeds to establish a new company in partnership with Yi Tunnel (Beijing) Technology Co., Ltd., to purchase a medical health software platform that caters to the healthcare needs of the elderly, including health testing, chronic disease management, and professional care, in order to enhance the company's existing healthcare business. Yi Tunnel (Beijing) Technology Co., Ltd. is a high-tech enterprise based in Beijing, specializing in the integration of computer vision and AI big data, promoting the digitalization and intelligence upgrade of the industry. With artificial intelligence technology at its core, the company focuses on the practical application of technology in real-life scenarios and is one of NVIDIA's cloud service providers in mainland China.