AK Medical seals HK$803m top-up on stock price surge

By Jonathan Breen
21 Feb 2020

AK Medical Holdings has raised HK$803m ($103m) from a top-up placement of new shares that was launched on the back of a near 80% jump in its stock price year-to-date.

The Chinese company designs, develops and manufactures orthopedic implants. It reached out to investors on Thursday to raise general working capital.

The issuer came looking to sell 53.5m shares at HK$14.65 to HK$15.15 each, eyeing proceeds of HK$783.8m to HK$810.5m. Sole placing agent Goldman Sachs launched an accelerated ...

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