Takeda-backed Ascentage Pharma aims to raise $126 mln in US IPO (updated)

Ascentage Pharma International

24/01/2025 24:11

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       Jan 23 (Reuters) - Ascentage Pharma  6855.HK  said on
Thursday it aims to raise $126.4 million in an initial public
offering in the United States, becoming the first sizeable
Chinese firm to seek a listing in the U.S. this year.
    Ascentage, backed by Japan's biggest drugmaker Takeda
Pharmaceutical  4502.T  aims to raise $126 million by offering
about 7.3 million American depositary shares at $17.25 each,
below its initial plan to offer shares at $20.34 apiece. 
    China-based Ascentage, whose shares have been listed on the
Hong Kong stock exchange since 2019, is focused on developing
and commercializing therapies that target malignancies.
    Ascentage will list on the Nasdaq under the symbol "AAPG."
J.P.Morgan and Citigroup are the underwriters for the offering.

 (Reporting by Gursimran Kaur in Bengaluru; Editing by
Subhranshu Sahu and Alan Barona)
 ((GursimranKaur.Mehar@thomsonreuters.com, https://x.com/GursimranKMehar))