HBM Holdings raises HK$511.7m in share placement for R&D, clinical trials

HBM Holdings Limited announced the successful completion of its placing of new shares under general mandate on September 5, 2025. All conditions were fulfilled, with 45,022,000 placing shares successfully placed at HK$11.50 per placing share. This represents approximately 5.17% of the enlarged issued share capital.

The company received net proceeds of approximately HK$511.7 million from the placement. HBM Holdings plans to allocate 50% of the proceeds (HK$255.9 million) to research and development of innovative drug assets, 40% (HK$204.7 million) to progressing clinical trials of existing pipeline drug assets, and the remaining 10% (HK$51.2 million) for working capital and general operating purposes. The company expects to utilize these proceeds by the end of 2026.

This placement is seen as beneficial for the company and its shareholders, broadening the shareholder base, attracting top-tier institutional investors, and enhancing financial flexibility to support strategic growth. As of June 30, 2025, HBM Holdings’ cash and cash equivalents stood at approximately US$320 million.