China-based Ascentage Pharma (NASDAQ: AAPG, HKG: 6855) has announced the pricing of its initial public offering (IPO) of 7,325,000 American depositary shares (ADSs) in the United States at USD 17.25 per share, prior to underwriting discounts and commissions. The ADSs are scheduled to begin trading on the Nasdaq Global Market on January 24, 2025, under the ticker symbol “AAPGV” on a “when-issued” basis. Regular-way trading is expected to commence on January 27, 2025, under the ticker symbol “AAPG.”
Offering Details
The IPO is expected to close on January 28, 2025, and will raise approximately USD 126.4 million for Ascentage Pharma. The offering represents a significant milestone for the company as it seeks to expand its presence in the global biopharmaceutical market. The proceeds from the IPO are expected to support Ascentage Pharma’s ongoing research and development efforts, as well as its commercialization strategy.
Market Outlook
Ascentage Pharma’s entry into the US market through this IPO underscores the growing interest of Chinese biopharmaceutical companies in tapping into international capital markets. The company’s decision to list on Nasdaq highlights its commitment to enhancing its global profile and attracting a broader investor base. With the funds raised, Ascentage Pharma is well-positioned to advance its pipeline of innovative therapies and strengthen its market position in the biopharmaceutical sector.-Fineline Info & Tech
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