Shanghai Junshi Seeking to Raise About CNY4.84 Billion in A-Share Issuance
July 01 2020 - 7:34AM
Dow Jones News
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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