Akeso to Raise HK$1.92 Billion from Share Placement

MT Newswires Live10-14

Akeso (HKG:9926) expects to raise HK$1.92 billion in net proceeds from a share placement, according to a Sunday filing with the Hong Kong stock exchange.

The company will issue 31.7 million shares to at least six independent third parties at HK$61.28 apiece through Morgan Stanley Asia as the placing agent.

The maximum number of shares to be placed represents about 3.53% of the enlarged issued share capital of the company.

The integrated drug discovery platform company plans to use 70% of the proceeds for the clinical development of its core products, 20% for commercialization of existing products, and 10% for general corporate purposes.

The company's shares were up over 1% in recent trade.

Price (HKD): $64.65, Change: $+0.15, Percent Change: +0.23%

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