Takeda-backed Ascentage Pharma targets $1.75 bln valuation in US IPO (updated)

Ascentage Pharma International

21/01/2025 11:22

(Adds valuation target in paragraph 1, details on IPO
throughout)
       Jan 21 (Reuters) - China-based Ascentage Pharma
 6855.HK  said on Tuesday it was targeting a valuation of $1.75
billion in its initial public offering in the United States.
    Ascentage, backed by Japan's biggest drugmaker Takeda
Pharmaceutical  4502.T , is seeking $149 million by offering
about 7.3 million American depositary shares at $20.34 each.
    J.P.Morgan and Citigroup are the underwriters for the
offering.
    Ascentage will list on the Nasdaq under the symbol "AAPG".

 (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by
Shounak Dasgupta)
 ((ArasuKannagi.Basil@thomsonreuters.com))