<p>INNOVATIVE PHAR (00399.HK) announced that it will issue a total of 137.6 million new shares to independent third party Erick Wong, equivalent to an expanded share capital of 7.02%; the price per share is HKD 0.176, a discount of 19.63% compared to the closing price on the last trading day (30th). The total amount raised is HKD 24.22 million, with a net amount of HKD 23.92 million intended for general working capital</p>

00399

<p>INNOVATIVE PHAR announced the issuance of a total of 137.6 million new shares to independent third party Erick Wong, equivalent to an expanded share capital of 7.02%; the price per share is HKD 0.176, representing a discount of 19.63% compared to the closing price on the previous trading day (30th). The total amount raised is HKD 24.22 million, with a net amount of HKD 23.92 million, intended for general working capital</p>

INNOVATIVE PHAR issues new shares at a discount of 19.63%, raising HKD 24.22 million