EXTRAWELL PHAR plans to issue a total of 160 million shares, with net proceeds used for new business development
EXTRAWELL PHAR announced plans to issue 160 million shares, with net proceeds to be used for new business development. The company has signed subscription agreements with three subscribers, raising a total of HKD 2.91 million, HKD 1.94 million, and HKD 10.67 million, with a subscription price of HKD 0.097 per share. The funds raised will be used to expand the trade, manufacturing, sales, and distribution of health care products, equipment, and technology in both the Chinese and overseas markets. The company expects that demand in the health care industry will continue to grow with the aging population and increasing health awareness
According to the announcement from Jingyou Pharmaceutical (00858), on August 14, 2025 (after trading hours), the company entered into Subscription Agreement I with Subscriber I, under which Subscriber I conditionally agreed to subscribe, and the company conditionally agreed to allocate and issue a total of 30 million Subscription Shares I at the subscription price (total amount of HKD 2.91 million, equivalent to HKD 0.097 per Subscription Share I). The subscription matters under Subscription Agreement I shall be finalized upon the fulfillment of conditions I.
On August 14, 2025 (after trading hours), the company entered into Subscription Agreement II with Subscriber II, under which Subscriber II conditionally agreed to subscribe, and the company conditionally agreed to allocate and issue a total of 20 million Subscription Shares II at the subscription price II (total amount of HKD 1.94 million, equivalent to HKD 0.097 per Subscription Share II). The subscription matters II shall be finalized upon the fulfillment of conditions II.
On August 14, 2025 (after trading hours), the company entered into Subscription Agreement III with Subscriber III, under which Subscriber III conditionally agreed to subscribe, and the company conditionally agreed to allocate and issue a total of 110 million Subscription Shares III at the subscription price III (total amount of HKD 10.67 million, equivalent to HKD 0.097 per Subscription Share III). The subscription matters III shall be finalized upon the fulfillment of conditions III.
The company intends to use the net proceeds from the subscription matters for the potential new business development of the group's health products, equipment, and technology trade, manufacturing, sales, and distribution business in China, and to expand business opportunities related to health into overseas markets. Meanwhile, the group will continue to maintain and develop its existing pharmaceutical business by allocating its existing internally generated cash resources. The group believes that due to various factors such as an aging population, the increasing prevalence of chronic diseases, heightened health awareness, and technological advancements, the demand for products and solutions that can improve health and patient care in the healthcare industry will continue to grow. The net proceeds from the subscription matters can support the group in better seizing new business opportunities
