Shanghai Junshi Biosciences (HKG:1877) completed the sale of 41 million H shares in a transaction valued at around HK$1.04 billion, according to a Friday bourse filing.

Shares gained about 7% in Monday's afternoon trade.

The cancer medicine developer sold the shares at HK$25.35 apiece and proceed raised will be used to advance the development of its therapies, it said.