One investor’s participation matters more than the others in Telix Pharma’s $175 million raise.
ASX-listed oncology business Telix Pharma’s $175 million raise on Thursday had investors wondering the intentions of one particular investor on Telix’s shareholder register.That investor, China Grand Pharmaceutical and Healthcare Holdings, has a $400 million odd strategic partnership with Telix in the Greater China market. When it was stitched up, in November 2020, China Grand also bought Telix shares which made it a 7.6 per cent shareholder of the ASX-listed company.
And so naturally, watchers have been keen if China Grand would take up its allowance of the $175 million raise. Telix’s team acknowledged as much on a call Thursday morning. And after a few more seconds of listing the two companies’ accomplishments together, Behrenbruch said: “Our expectation, at this juncture based on their education is that they’ll be taking up their pro-rata.”
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