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Ascentage Pharma Group International ( (HK:6855) ) just unveiled an update.
Ascentage Pharma Group International announced a placing and top-up subscription agreement involving the sale and issuance of up to 22 million shares at HK$68.60 each, representing a discount to recent trading prices. The transaction is expected to raise approximately HK$1,492.5 million in net proceeds, which the company plans to use as detailed in their announcement. This move is part of Ascentage Pharma’s strategy to strengthen its capital base, potentially enhancing its market position and operational capabilities. However, the completion of the transaction is contingent upon certain conditions being met, and investors are advised to exercise caution.
The most recent analyst rating on (HK:6855) stock is a Buy with a HK$40.00 price target. To see the full list of analyst forecasts on Ascentage Pharma Group International stock, see the HK:6855 Stock Forecast page.
More about Ascentage Pharma Group International
Ascentage Pharma Group International is a biopharmaceutical company incorporated in the Cayman Islands, focusing on the development of novel therapies for cancers, chronic hepatitis B, and age-related diseases. The company is listed on the Hong Kong Stock Exchange and is involved in the research and commercialization of innovative drugs, aiming to address unmet medical needs in the global market.
Average Trading Volume: 4,586,564
Technical Sentiment Signal: Buy
Current Market Cap: HK$26.42B
Learn more about 6855 stock on TipRanks’ Stock Analysis page.