Akeso plans HK$3.5bn share placement for R&D and growth

Akeso, Inc. has announced a placement of 23,550,000 new shares under a general mandate and 3,000,000 existing shares at HK$149.54 per share. The new shares represent approximately 2.62% of the current issued share capital and 2.56% of the enlarged share capital. The placing price reflects a 4.75% discount to the closing price on August 27, 2025, and an 11.03% discount to the five-day average closing price.

The primary placing is expected to generate gross proceeds of approximately HK$3,521.67 million and net proceeds of HK$3,493.01 million. These funds will be allocated with 80% towards global and China R&D for innovative pipelines and infrastructure, 10% for the commercialization of existing approved products, and 10% for general corporate use. The transactions are contingent upon listing approval from the Stock Exchange.

Dr. Xia Yu and Dr. Li Baiyong, as vendors, are selling the 3,000,000 existing shares, representing approximately 0.33% of the total shares in issue. Morgan Stanley Asia Limited is acting as the sole overall coordinator and sole placing agent for the transaction, which is scheduled for completion by September 4, 2025.