Zai Lab, Hutchison Chi-Med launch ADS follow-ons

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By Jonathan Breen
22 Jan 2020

Chinese biopharmaceutical company Zai Lab has kicked off a follow-on offering of its American Depository Shares. It is aiming to raise around $300m.

The firm is issuing 5.5m new ADS, while shareholder QM11, a subsidiary of Qiming Venture Partners, is selling 500,000 of its shares in the deal. Each ADS represents one of Zai Lab’s ordinary shares.

Citi, Goldman Sachs, Guggenheim Securities, JP Morgan and SVB Leering are underwriting the follow-on. ...

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