Zai Lab, Futu tap ECM for fresh funding

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By Rashmi Kumar
20 Apr 2021

US-listed Zai Lab and Futu Holdings are tapping the equity market for funds through follow-on offerings, with both the Chinese companies launching their transactions after a rally in their stock price.

Zai Lab, a research-based commercial stage biopharmaceutical company, is looking to raise $750m from an underwritten offering of its American Depositary Shares (ADS).

Citi, Goldman Sachs, Guggenheim Securities, Jefferies, JP Morgan and SVB Leerink are the joint bookrunning managers for the ADS offering. The six firms, with the ...

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