ASCLETIS-B Shares Surge Nearly 9% in Morning Session Following GIC's HK$781 Million Stake Increase

Stock News02-09 09:46

ASCLETIS-B (01672) rose nearly 9% during the morning trading session. At the time of writing, the stock was up 8.29%, trading at HK$16.46, with a turnover of HK$14.289 million. The price movement follows a disclosure by the Hong Kong Stock Exchange on February 6, which showed that Singapore's sovereign wealth fund, GIC, purchased 64.128 million new shares of ASCLETIS at an average price of HK$12.18 per share, totaling approximately HK$781 million. Following the transaction, GIC holds a 6.42% stake in ASCLETIS. Public information indicates that this investment was part of a recent share placement completed by ASCLETIS. The company placed a total of 69.26 million shares, raising net proceeds of approximately HK$835 million. GIC received a leading allocation in this placement round. ASCLETIS stated that 90% of the funds raised will be specifically allocated to the global Phase III clinical development of its oral small-molecule GLP-1 receptor agonist, ASC30, including trial preparation, foundational work, and official initiation. The remaining 10% will be used for supplementing working capital.

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