Biological products developer Akeso falls on discounted share sale

Akeso

21/03/2024 06:11

** Shares of oncology and immunology focused biological
products developer Akeso Inc  9926.HK  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  .HSCIH  slips 0.03%, while
Hang Seng Composite Index  .HSCI  gains 2% and Hang Seng Index
 .HSI  rises 2.3%
    ** Stock up 3.1% YTD  


($1 = 7.8204 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))