Akeso Inc. (09926.HK) saw its stock price plummet by 5.35% in pre-market trading on Thursday, following the company's announcement of a private placement of new shares and a secondary offering of existing shares under its general mandate.

The biopharmaceutical company revealed that it has engaged a sole overall coordinator and placing agent to facilitate the placement of 23.6 million primary placing shares at a price of HK$149.54 per share. This move, while potentially beneficial for raising capital, has likely sparked concerns among investors about potential share dilution.

As part of the announcement, Akeso also disclosed that its chairwoman and executive director, Dr. Xia Yu, along with other board members, are overseeing this development. The company has committed to a three-month lock-up period following the closing date, during which it will not sell or issue any additional shares or related securities without the written consent of the placing agent. This news has evidently prompted a significant sell-off in early trading, reflecting investor apprehension about the potential impact on share value.