Laekna (HKG:2105) will sell 17,636,000 new shares to at least six investors under a placing deal, according to a Thursday filing with the Hong Kong Exchange.
The biotechnology company will shell the shares at HK$13.36 apiece.
The shares represent 4.33% of Laekna's issued share capital, as enlarged by the placement.
Net proceeds, estimated at HK$230.3 million, will be used to speed up research for the company's LAE102 weight-loss drug, the filing stated.
Shares slid 9% during Thursday's morning trading.
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