The Zhitong Finance App learned that Langsheng Pharmaceutical (00503) announced that on April 7, 2022, the company signed a subscription agreement with the contractor. According to this, the contractor has conditionally agreed to the subscription, and the company has conditionally agreed to allocate and issue a total of 49.52 million placed shares. The placement price is HK$1.20 per share, which is about 11.1% premium over the closing price of HK$1.08 per share reported on the Stock Exchange on the date of the subscription agreement. As of 9:20, it had increased 11.11%, the price was HK$1.2, and the turnover was 56,400.

According to the announcement, according to information provided by the contractor, prior to the subscription, one contractor held 2 million shares; one contractor held 200,000 shares, and one contractor held 60,000 shares.

Net proceeds from the subscription are expected to be HK$59.15 million. The company intends to use such net proceeds for potential future mergers and acquisitions or projects; and supplementary working capital and general corporate purposes to support the company's strategy.