By Stephen Nakrosis
Ascentage Pharma Group said its American depositary shares were slated to begin trading on the Nasdaq Global Market on Friday, with its initial public offering priced at $17.25 per ADS.
The company said Thursday it would offer some 7.3 million ADSs in the IPO, adding they would trade under the symbol AAPG. Each ADS will represent four of the company's ordinary shares.
The company lists its share on the HKEx in Hong Kong.
Ascentage Pharma is a Cayman Islands exempted company, operating in several countries through subsidiaries including Suzhou Ascentage Pharmaceutical, Guangzhou Healthquest Pharma, Shanghai Centagen Bio and Ascentage Pharma Group.
The company said it works to discover, develop and commercialize therapies to address global unmet medical needs primarily in hematological malignancies.
J.P. Morgan and Citigroup are listed as the offering's underwriters.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 23, 2025 19:01 ET (00:01 GMT)
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