Lukang Pharmaceutical completes private placement, raises 1.2 bn yuan

Shandong Lukang Pharmaceutical Co., Ltd. announced the successful completion of its 2024 non-public issuance of A-shares to specific investors. The issuance involved 146,520,146 shares at an issue price of 8.19 yuan per share, raising a total of 1,199,999,995.74 yuan. After deducting expenses of 13,170,857.06 yuan, the net proceeds amounted to 1,186,829,138.68 yuan. The new shares will increase the company’s share capital by 146,520,146.00 yuan and capital reserves by 1,040,308,992.68 yuan.

The issuance was approved by the China Securities Regulatory Commission (CSRC) and involved 16 subscribers, including the controlling shareholder Hualu Holdings Group Co., Ltd., which subscribed to 34,891,581 shares. This transaction is considered a related party transaction. The newly issued shares will be subject to a lock-up period: 18 months for Hualu Holdings Group and 6 months for other investors.

This capital injection is expected to enhance the company's asset structure, improve its financial strength, and support the development of its core businesses. The process adhered to relevant laws and regulations, ensuring fairness and transparency.