HK Stock Market Move | 3SBIO (01530) is currently down by nearly 5%. The company recently raised over HK$3 billion through a rights issue and plans to list its subsidiary Mundy International separately on the stock exchange.

3SBIO(01530) is currently down nearly 5%, dropping 4.93% to HK$27.76 as of press time, with a turnover of HK$704 million. On the news front, 3SBIO announced earlier this month that it plans to issue 105 million shares at a price of HK$29.62 per share, raising a net amount of approximately HK$3.087 billion. The shares issued in this placement represent about 4.14% of the issued share capital after the placement, with the placement price discounted by 6.50% from the previous day's closing price. 80% of the funds raised from this placement will be used for research and development expenses, while the remaining 20% will be used for operating funds. It is worth noting that in November of this year, 3SBIO announced the spin-off of its hair loss treatment company, Medison, for listing. According to BOCOM INTL research report, the spin-off of Medison is expected to bring short-term investment returns to 3SBIO. In the long term, spinning off the consumer healthcare business will help the company focus on prescription drugs and innovative drug main businesses, and the funding obtained will support the commercialization and promotion of newly developed innovative products after they are launched.