17th Mar 2016 07:58
LONDON (Alliance News) - Hutchison China MediTech Ltd on Thursday said it has raised USD101.3 million through the sale of American depositary shares on the Nasdaq Global Select Market in New York.
The company sold 7.5 million ADSs at USD13.50 per ADS. Each ADS is the equivalent of half an ordinary share in Hutchison China MediTech listed in London, so the price achieve is equivalent to around 1,942 pence per share. Hutchison China MediTech shares closed Wednesday at 2,309.54p.
The listing was run by Bank of America Merrill Lynch and Deutsche Bank Securities as joint global coordinators and joint bookrunners.
"We are delighted with the way our roadshow has been received by investors. We believe investors share our view of Chi-Med's prospects, and we look forward to our Nasdaq presence increasing our profile within the world's largest pharmaceutical market," said Hutchison China MediTech Chairman Simon To.
By Sam Unsted; [email protected]; @SamUAtAlliance
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