HK Stock Market Move | BRONCUS-B (02216) rose more than 9% during trading and plans to raise approximately HK$327 million through a premium share placement. INT MEDICAL (01501) has subscribed for the majority of shares.

BRONCUS-B (02216) rose more than 9% during trading hours, and as of the press release, it was up 5.86% to HK$3.25, with a turnover of HK$117.892 million. On the news front, Konbo Medical announced its plan to issue a total of 105 million subscription shares at a price of HK$3.11 per share, representing a premium of about 1.3% over the previous day's closing price. The net proceeds of approximately HK$327 million will be used to continue expanding its product portfolio through potential acquisitions in the medical device industry. The company has been seeking potential acquisition targets in the medical device industry and is currently in discussions with various parties. Of note, in this offering, INT MEDICAL (01501) plans to invest approximately HK$283 million to subscribe for approximately 91.0936 million shares of Konbo Medical. The announcement stated that considering Konbo Medical's rich product line in the non-vascular intervention field, the subscription can further expand the company's strategic layout in this area.