HBM Holdings raises HK$511.7m in share placement for drug development

HBM Holdings Limited has agreed to place 45,022,000 new shares at HK$11.50 per share, raising an estimated gross HK$517.8 million and net proceeds of approximately HK$511.7 million. The placing price represents a 9.45% discount to the closing price on August 28, 2025, and a 9.87% discount to the average closing price over the last five trading days. This represents 5.45% of the existing and 5.17% of the enlarged issued share capital.

The proceeds will primarily support the company’s strategic initiatives, with 50% allocated to pioneering research and development of innovative drug assets and 40% to progressing clinical trials of existing pipeline drug assets. The remaining 10% will be used for working capital and general corporate purposes. The company's board believes this placement will expand its shareholder base and strengthen its financial position.

The transaction is conditional upon the Listing Committee of the Stock Exchange granting approval for the listing and dealing of the placing shares. Shareholders and potential investors are cautioned to exercise prudence, as the completion of the placing remains subject to the fulfillment of these conditions.