Ascentage Pharma Announces Closing of U.S. Initial Public Offering
ROCKVILLE, Md. and SUZHOU, China, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma (NASDAQ:AAPG) (HKEX: 6855) announced today the closing 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, was 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 began trading on the Nasdaq Global Market on January 24, 2025.
J.P. Morgan and Citigroup acted as joint book-running managers for the offering.
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 and has also been listed on the Nasdaq Global Market under the ticker symbol "AAPG" since January 2025.
Contacts
Investor Relations
Hogan Wan, Head of IR and Strategy
Ascentage Pharma
[email protected]
+86 512 85557777
Stephanie Carrington
ICR Healthcare
[email protected]
(646) 277-1282
Media Relations
Sean Leous
ICR Healthcare
[email protected]
(646) 866-4012
