23rd Jun 2021 18:10
Hutchmed (China) Ltd - Hong-Kong-based pharmaceutical company - Launches offering for 104.0 million shares on the main board of the Stock Exchange of Hong Kong at HKD40.10 each, which is equivalent to about USD25.82 per American depository share or GBP3.70 per share. Each ADS represents five ordinary shares of the company.
"The company will receive all of the net proceeds from the global offering and plans to use the net proceeds from the global offering primarily to advance its late-stage clinical programs as well as its pipeline of clinical-stage and preclinical drug candidates, further strengthen its commercialization, clinical, regulatory and manufacturing capabilities, fund potential global business development and strategic acquisition opportunities and for general corporate purposes," the company says.
Current stock price: 427.00 pence, up 15% on Wednesday
Year-to-date change: down 10%
By Arvind Bhunjun; [email protected]
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