Zai Lab, Luye Pharma seal overnight fundraises

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By John Loh, Jonathan Breen
06 Sep 2018

The Asian follow-on and block markets saw two transactions in Chinese healthcare names this week that raised a total of $250m.

Zai Lab, a Chinese biotechnology firm, sold 7.5m American Depository Shares at $20 each to raise $150m. Citi, Jefferies, JP Morgan and Leerink Partners launched the primary capital increase last Friday.

The stock was traded at $22.73 per ADS last Friday, giving investors a file-to-offer discount of 12% ...

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