Zai Lab (HKG:9688) has raised $216 million in net proceeds from the sale of 7.8 million American depositarty shares at $25.50 apiece on Nov. 18, according to a Friday filing with the Hong Kong bourse.
The underwriters have fully exercised their option to purchase an additional 1,176,470 ADSs at the offer price, apart from the underwriting discounts and commissions. The additional ADS purchase took place on Nov. 19.
Goldman Sachs (Asia), Jefferies, and Leerink Partners acted as the underwriters for the offering.
Zai Lab plans to use the funds for general corporate purposes and expanding business.
The company's shares were up by almost 8% at the close of trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.