Ascentage Pharma raises HK$1.5bn through share placement

Ascentage Pharma Group International will place 22 million existing shares and subscribe for an equal number of new shares at HK$68.60 each, raising HK$1.51bn gross proceeds at an 8.17% discount.

Net proceeds of HK$1.49bn will fund commercialization efforts (40%), global clinical development (35%), and infrastructure plus working capital (25%).