StockNews.AI
AAPG
StockNews.AI
208 days

Ascentage Pharma Announces Pricing of U.S. Initial Public Offering

1. Ascentage Pharma raises $126.4 million through IPO of 7.3 million ADSs. 2. Initial public offering priced at $17.25 per ADS before commissions. 3. ADSs trading begins on Nasdaq under symbols AAPGV and AAPG. 4. 30-day option granted to underwriters for additional ADS purchase. 5. Company primarily focused on therapies for hematological malignancies.

5m saved
Insight
Article

FAQ

Why Bullish?

The substantial capital raised can enhance AAPG's operational and growth capabilities, similar to past successful IPOs that positively impacted stock prices.

How important is it?

The IPO funds could significantly augment Ascentage Pharma's business strategies, affecting market perception of AAPG.

Why Short Term?

Initial public interest and trading could lead to immediate price movements during IPO trading days.

Related Companies

AAPGV6855.HK
January 23, 2025 18:41 ET  | Source: ASCENTAGE PHARMA GROUP INTERNATIONAL ROCKVILLE, Md. and SUZHOU, China, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma (Nasdaq: AAPG) (HKEX: 6855) announced today the pricing of its U.S. initial public offering of 7,325,000 American depositary shares (“ADSs”), at a public offering price of $17.25 per ADS, before underwriting discounts and commissions. Each ADS represents four ordinary shares of Ascentage Pharma. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Ascentage Pharma, are expected to be approximately $126.4 million. In addition, Ascentage Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,098,750 ADSs at the initial public offering price, less underwriting discounts and commissions. The ADSs are expected to begin trading on the Nasdaq Global Market on January 24, 2025, under the ticker “AAPGV” on a “when-issued” basis, and on January 27, 2025, under the ticker symbol “AAPG” for “regular-way” trading. The offering is expected to close on January 28, 2025, subject to customary closing conditions. J.P. Morgan and Citigroup are acting as joint book-running managers for the offering. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 23, 2025. The offering will be made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com, and Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Ascentage Pharma Ascentage Pharma is a global, integrated biopharmaceutical company engaged in discovering, developing and commercializing therapies to address global unmet medical needs primarily in hematological malignancies. Ascentage Pharma has been listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code 6855.HK since October 2019. Contacts Investor Relations Hogan Wan, Head of IR and StrategyAscentage PharmaHogan.Wan@ascentage.com+86 512 85557777 Stephanie CarringtonICR HealthcareStephanie.Carrington@icrhealthcare.com(646) 277-1282 Media Relations Sean LeousICR HealthcareSean.Leous@icrhealthcare.com(646) 866-4012

Related News