By Ben Otto 
 

Shanghai Junshi Biosciences Co. is seeking to raise about 4.84 billion Chinese yuan ($685.0 million) in an issuance of A-shares in China.

Hong Kong-listed Shanghai Junshi, a developer of biopharmaceutical drugs, said in a stock-exchange filing Wednesday that it will offer 87.1 million shares at CNY55.50 apiece.

The A-shares will trade on the Shanghai Stock Exchange's Star board, a venue created for China's homegrown tech companies.

Shanghai Junshi's shares in Hong Kong have more than doubled in the year to date.

The company has recently been working with Eli Lilly & Co. on an antibody treament designed to fight Covid-19, and with Merck KGaA on a treatment for head and neck cancer patients in China.

 

Write to Ben Otto at ben.otto@wsj.com

 

(END) Dow Jones Newswires

July 01, 2020 07:19 ET (11:19 GMT)

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