Ascentage Pharma-B (06855.HK) Jumps Nearly 15% on $75M Strategic Investment from Takeda International

According to the Zhicheng Finance APP, Ascentage Pharma-B (06855) opened nearly 15% higher. As of the time of writing, it rose 14.97%, trading at HK$26.5, with a turnover of HK$2.9415 million.

On the news front, Ascentage Pharma announced that it will issue 24,307,300 new shares to Takeda International, an independent third party, representing 7.73% of the enlarged share capital, with a one-year lock-up period. The total consideration amounts to US$75 million (approximately HK$586 million), equivalent to a per-share price of HK$24.0985, which is a 4.55% premium over the closing price on June 14. The net proceeds will be used for the development of core products and key candidate products.

It is reported that Takeda International is a company registered in Switzerland and a wholly-owned subsidiary of Takeda Pharmaceutical, mainly engaged in the research, development, and commercialization of biopharmaceuticals.