Understanding the Market | HBM HOLDINGS-B rose nearly 5% to a new high, the company announced the completion of the placement, and GIC's shareholding ratio has exceeded 6% after the increase

HBM HOLDINGS-B rose nearly 5% in the late trading session, reaching a new high of HKD 17.98. As of the time of publication, it was up 4.14%, reported at HKD 17.84, with a trading volume of HKD 223 million. In terms of news, HBM HOLDINGS announced that all conditions for the placement have been met, and the placement was completed on September 5, 2025. The company previously announced plans to place a total of 45.022 million new shares, with net proceeds of HKD 512 million; approximately 50% will be used for the development of innovative drug assets; about 40% will be used to advance clinical trials of existing pipeline drug assets; and approximately 10% will be used for working capital and other general corporate purposes. In addition, according to documents disclosed by the Hong Kong Stock Exchange, on August 29, the Government of Singapore Investment Corporation (GIC) increased its holdings in HBM HOLDINGS by 40.222 million ordinary shares at an average price of HKD 12.7133 per share, valued at approximately HKD 511 million. After the increase, the latest number of shares held by the Government of Singapore Investment Corporation is 53.977 million shares, with the shareholding ratio rising from 1.62% to 6.37%