Akeso Biopharma (Cayman) Limited ("Akeso") entered into a placement agreement with Morgan Stanley Asia Limited ("Placement Agent") on October 11, 2024, conditionally agreeing to place 31,700,000 new shares at a price of HK$61.28 per share, accounting for approximately 3.53% of the enlarged issued share capital. The placement price represents a discount of approximately 4.99% to the closing price of HK$64.50 on October 10 and approximately 11.30% discount to the average closing price of HK$69.09 in the five trading days prior. After the completion of the placement, it is expected to raise net proceeds of approximately HK$1,924.20 million, which will be used for drug clinical development, product commercialization, and general corporate purposes. The placement shares will be issued after obtaining the approval of the Listing Committee of The...Show More

Akeso Biopharma (Cayman) Limited ("Akeso") entered into a placement agreement with Morgan Stanley Asia Limited ("Placement Agent") on October 11, 2024, conditionally agreeing to place 31,700,000 new shares at a price of HK$61.28 per share, accounting for approximately 3.53% of the enlarged issued share capital. The placement price represents a discount of approximately 4.99% to the closing price of HK$64.50 on October 10 and approximately 11.30% discount to the average closing price of HK$69.09 in the five trading days prior. After the completion of the placement, it is expected to raise net proceeds of approximately HK$1,924.20 million, which will be used for drug clinical development, product commercialization, and general corporate purposes. The placement shares will be issued after obtaining the approval of the Listing Committee of The Stock Exchange of Hong Kong Limited and trading approval, subject to fulfilling the conditions of the placement agreement. If the conditions are not met by October 21, 2024, the placement will be terminated. Akeso Biopharma stated that this placement will help expand the shareholder base and capital base, as well as strengthen the financial position of the group.