Zai Lab Raises $216 Million Through ADS Offering

MT Newswires Live

2024/11/25

Zai Lab (HKG:9688) has raised $216 million in net proceeds from the sale of 7.8 million American depositarty shares at $25.50 apiece on Nov. 18, according to a Friday filing with the Hong Kong bourse.

The underwriters have fully exercised their option to purchase an additional 1,176,470 ADSs at the offer price, apart from the underwriting discounts and commissions. The additional ADS purchase took place on Nov. 19.

Goldman Sachs (Asia), Jefferies, and Leerink Partners acted as the underwriters for the offering.

Zai Lab plans to use the funds for general corporate purposes and expanding business.

The company's shares were up by almost 8% at the close of trading.

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