Ascentage Pharma (AAPG) said Friday that underwriters of its US initial public offering have partially exercised an over-allotment option to buy an additional 935,144 American depositary shares at the IPO price of $17.25 per ADS.
After the partial exercise of the over-allotment option, the total number of ADSs sold in the offering will rise to about 8.3 million ADSs and the gross proceeds will be about $142.5 million, the biopharmaceutical company said.
AAPG shares were over 2% higher ahead of Friday's opening bell.
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