Adds valuation target in paragraph 1, details on IPO throughout
Jan 21 (Reuters) - China-based Ascentage Pharma 6855.HK said on Tuesday it was targeting a valuation of $1.75 billion in its initial public offering in the United States.
Ascentage, backed by Japan's biggest drugmaker Takeda Pharmaceutical 4502.T, is seeking $149 million by offering about 7.3 million American depositary shares at $20.34 each.
J.P.Morgan and Citigroup are the underwriters for the offering.
Ascentage will list on the Nasdaq under the symbol "AAPG".
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta)
((ArasuKannagi.Basil@thomsonreuters.com))
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