On June 25th, GrothShares News reported that IVD Medical (01931.HK) has entered into a subscription agreement with underwriters, which means the company is in a position to agree to issue and sell shares at a subscription price of HK $0.7 per share to no more than six placing agents, with a maximum of 270,918,016 shares allotted. The subscribing and (if applicable) ultimate beneficial owners must be independent third parties. The allotment of shares will be issued under a general authorization and will not require the approval of shareholders.

The subscription shares represent approximately 16.7% of the enlarged issued share capital of the Company following the full allotment and issue of the subscription shares. The subscription price of HK $0.7 per share represents a discount of approximately 18.60% to the closing price of the shares on the Stock Exchange on the date of the subscription agreement of HK$0.86 per share. It is estimated that the maximum gross and maximum net proceeds from the subscription will be approximately HK$89.6 million and HK$189 million respectively (after deduction of the underwriting commission and other related expenses generated by the subscription).