Link-Asia International Medtech Group Ltd. (HK:1143) has released an update.
China Energy Storage Technology Development Limited, previously Link-Asia International MedTech Group Limited, has disclosed the utilization of proceeds from its 2021 fundraising activities, detailing the allocation towards its assisted reproduction medical technology business and general working capital. The company has also adjusted its allocation of unutilized net proceeds from a rights issue due to the impact of the Covid-19 pandemic on the financial market and its ongoing high administrative costs, redirecting funds to support general working capital with full utilization expected by the end of 2024.
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