Ascentage Pharma Group (06855) surged more than 4% during morning trading, rising 4.11% to HK$74.75 by midday with a turnover reaching HK$495 million. This momentum follows the company's announcement of plans to issue up to 22 million new shares at HK$68.60 per share, aiming to raise net proceeds of approximately HK$1.493 billion.

Approximately 40% of the placement proceeds will accelerate commercialization efforts, expanding market reach and enhancing patient access. Another 35% is allocated to global clinical development programs advancing core pipeline candidates. The remaining 25% will strengthen infrastructure and working capital to support worldwide operations.

The board views this placement as a strategic opportunity to secure additional funding, enabling swift commercialization of newly approved core products while preparing other candidates for regulatory approval. The capital injection will also advance early-stage compounds through their development cycles and broaden the shareholder base.

Management emphasized that the placement will significantly bolster the group's financial standing and provide essential operating capital. These funds will sustain ongoing development of clinical assets, including pivotal studies and pre-commercialization activities for newly approved therapies. Furthermore, Ascentage Pharma requires continued market funding to progress multiple early-stage candidates requiring further development investment.