Uni-Bio raises HK$141.8M in private placement

On July 18, Uni-Bio Science Group Ltd. (HKSE:690) raised HK$141.8 million ($18.2 million) through the sale of 1 billion new shares at HK$0.138 in a private placement. HeungKong Great Health Fund I, operated by Chinese conglomerate HeungKong Group (Guangzhou, China), invested HK$120.5 million ($15.4 million). Wynhaus Assets Management invested the HK$21.3 million ($2.7 million) balance.

The deal makes HeungKong a strategic shareholder of Uni-Bio, with a 14.2% stake. Uni-Bio gains access to HeungKong's distribution network, and the companies plan to explore opening biopharma incubators and seek international M&A opportunities...