HK Stock Market Move | HIGHTIDE-B(02511) surged over 3% and plans to issue approximately 15% of shares at a discount to raise funds for the clinical development and commercialization of bear bile extract berberine.

HIGHTIDE-B (02511) rose by more than 3%, reaching a 3.46% increase at the time of writing, trading at 2.69 Hong Kong dollars with a trading volume of 3.0614 million Hong Kong dollars. In terms of news, HIGHTIDE-B announced that on June 26, 2025, the company entered into a placement agreement with a placement agent. According to the terms of the placement agreement and subject to the conditions stated therein, the company agreed to issue placement shares, and the placement agent agreed to act as the company's agent to ensure that at least six independent placees subscribe for up to 60 million shares of placement shares at a price of 2.21 Hong Kong dollars per share. Assuming that there are no changes in the company's issued share capital from the date of this announcement until the completion of the placement, the 60 million shares of placement shares would represent approximately 11.66% of the company's existing issued share capital; and approximately 10.44% of the company's total issued share capital after the issuance and placement of the placement shares. Assuming all placement shares are successfully issued, the total expected proceeds from the placement are approximately 132.6 million Hong Kong dollars, with expected net proceeds of approximately 131 million Hong Kong dollars. The company plans to use the net proceeds from the placement for the clinical development and commercialization of the group's pipeline product HTD1801, which is a leading compound in the company's independent research and development of intestinal and hepatic anti-inflammatory and metabolic regulatory agents. The placement price of 2.21 Hong Kong dollars per share represents a discount of approximately 15% compared to the closing market price of 2.60 Hong Kong dollars per share on the Stock Exchange of Hong Kong on June 25, 2025.