Ascentage Pharma Raises $192.3M Through Oversubscribed Offshore Share Placement

Ascentage Pharma Group International (NASDAQ:AAPG) is one of the best performing mid cap stocks so far in 2025. On July 14, Ascentage Pharma Group announced the pricing of an offshore top-up placement. This placement involved 22 million ordinary shares, with a par value of $0.0001 per share, priced at HKD68.60 per share.

The shares were offered by Dajun Yang Dynasty Trust, which is an affiliate of Ascentage’s CEO, Dr. Dajun Yang, in an offshore transaction outside the US, targeting non-US persons. The aggregate gross proceeds from this placement are ~HKD1,509.2 million, or about $192.3 million, before deducting placing fees and other offering expenses.

Following the closing of the offshore placement, the Dajun Yang Dynasty Trust will subscribe for, and Ascentage Pharma will issue, 22 million new ordinary shares at the same price of HKD68.60 per share. The newly issued equity capital will represent approximately 6.29% of the company’s issued share capital before the offshore placement.

Ascentage Pharma Group International (NASDAQ:AAPG) is a clinical-stage biotechnology company that develops therapies for cancers, chronic hepatitis B virus, and age-related diseases in Mainland China.

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Disclosure: None. This article is originally published at Insider Monkey.