BUZZ-Biological products developer Akeso falls on discounted share sale

Reuters03-21

** Shares of oncology and immunology focused biological products developer Akeso Inc falls 5.7% to HK$47.80; on course for biggest one-day pct decline since March 5

** Stock hits lowest level since March 13

** Co plans sales of 24.8 mln new shares, or 2.86% of the enlarged share capital, to third party investors raising HK$1.18 bln ($153.4 mln) to fund various preclinical programs and for commercialization of products

** Says shares will be sold at HK$47.65 apiece, representing 6.02% discount to Wednesday's close

** Hong Kong's healthcare index slips 0.03%, while Hang Seng Composite Index gains 2% and Hang Seng Index

rises 2.3%

** Stock up 3.1% YTD

($1 = 7.8204 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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