Ascentage Pharma announced on July 14, 2025, the pricing of a top-up placement of 22 million ordinary shares at HKD68.60 per share. This offshore placement, which was oversubscribed by eight times, is expected to generate aggregate gross proceeds of approximately HKD1,509.2 million, or about US$192.3 million.
The placement was conducted by Dajun Yang Dynasty Trust, an affiliate of the company’s CEO, Dr. Dajun Yang. Concurrently, the Vendor will subscribe for 22 million new ordinary shares from the company at the same price.
The net proceeds from this offering are intended for commercialization efforts, including expanding coverage and improving patient access, global clinical development to advance core pipeline candidates, and strengthening infrastructure and working capital for global operations. The oversubscription highlights robust investor demand and confidence in Ascentage Pharma's growth trajectory.
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