HK-listed Akeso drops most in nearly three months on discounted share sale
BUZZ-HK-listed Akeso drops most in nearly three months on discounted share sale ** Shares of Akeso Inc 9926.HK drop 10.6% to HK$93.85, their biggest intraday pct decline since July 17
** The antibody drugs producer's stock hits its lowest point since September 28 in its third consecutive session of losses
** Stock is top pct loser in the Hang Seng Biotech Index .HSBIO, which falls 2.7%
** Company plans sale of 20 million new shares, representing 2.13% of the enlarged share capital, to third-party investors in a share placement, raising HK$1.96 billion ($249.75 million) for R&D and commercialization of products, among others
** The shares will be issued at HK$97.76 apiece, or a 6.9% discount to Tuesday's close of HK$105 - company
** YTD, Akeso stock down 16.3%, benchmark Hang Seng Index .HSI down 5.8%
($1 = 7.8477 Hong Kong dollars)
(Reporting by Donny Kwok)
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HK-listed Akeso drops most in nearly three months on discounted share sale
Brief: Akeso To Place 20 Million New Shares At HK$97.76 Per Share
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