Boji Medical seeks share issuance authority

Guangzhou Boji Medical & Biotechnological (SZSE:300404) announced its board of directors has approved a proposal to request shareholder authorization for a simplified procedure involving the issuance of shares to specific targets. The proposed issuance aims to raise no more than CNY 300 million, capped at 20% of the company's latest year-end net assets. Subject to shareholder approval at the 2024 annual general meeting, the authorization would remain valid until the 2025 annual general meeting. The board will determine specifics, including the issuance price (no lower than 80% of the average trading price of the 20 trading days prior) and final recipients, with funds intended for projects aligned with national policies. The announcement emphasizes that existing shareholders' interests and company independence will be maintained, and profits before the issuance will be shared proportionally post-issuance.