Sumitomo Pharma Co.,Ltd. [4506.T]
TOKYO, Apr 20 (Pulse News Wire) – Sumitomo Pharma CO.,LTD. (4506.T) announced plans for a public offering of ordinary shares totaling 148,900,000 units at a price of ¥1,489 per share, raising up to ¥220,852,100,000.
Subscription will run from April 21 to April 22, with payment due on April 24 and delivery scheduled for April 27. Additionally, the company will issue new shares through a private placement to raise up to ¥14,890,000,000.
Payment for these shares is set at ¥1,489 per share, with subscription due on April 23 and payment on April 24. Funds raised will primarily support clinical development of two cancer drugs, research in neurodegenerative diseases and infectious diseases, investment in regenerative medicine initiatives, production facility enhancements, IT system upgrades, and strategic investments aimed at reducing debt.
Total funds allocated for these purposes amount to ¥148,900,000,000 by March 31, 2029.
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