Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Baidu Juices Up Intelligent Driving Tie-Up With BlackBerry
India Permanently Rolls Back Welcome Matt on TikTok, WeChat and Other Chinese Apps
Will Faraday and Geely Team Up in a Possible Replication of Baidu and Foxconn Manufacturing Partnerships?
Chinese Edtech Startup Huohua Siwei Secures $400 Million in Series E Funding Round
Trending in China: Man Fired for Skipping Work to Mourn Father Gets Billion Views
Impressive New York Trading Debut for Chinese E-Cigarette Maker RLX But Challenges Lie Ahead
Self-Driving Tech Startup Uisee Closes $155 Million Funding Round
Trending in China: Gold Mining Rescue Lights Up Weibo
China Evergrande’s NEV Unit Brings Six Investors On Board to Raise $3.4 Billion
Taiwan’s MediaTek Surpasses Qualcomm as China’s Smartphone Chip Supplier of Choice as U.S. Sanctions Bite
Tencent-Backed Esports Startup VSPN Closes $60 Million Funding
Trending in China: Foreign Medical Students Volunteer for Battle Against Virus in Freezing Northeast
Chinese Telcos Look for More Sympathy Under Biden Administration
Gojek, Tokopedia Explore Holding Company Structure as Merger Talks Move Forward
Carmaker BYD to Raise $3.9 Billion Through New Share Sale
Trending in China: Beijing Skating Now On Ice As Covid Restrictions Imposed
Alibaba’s Jack Ma Reemerges After Long Absence
Chinese Mainland Speeds Up Chip Equipment Buying from ASML
Chinese Edtech Startup Erwan Nets Nearly $100 Million in Series D, E Funding Rounds
Matrix Partners China Raises $1.2 Billion for Flagship Venture Fund
Baker Bros. Advisors Sells ADSs in BeiGene Just Months After Buying Shares

Ding Yi / Dec 03, 2020 06:17 PM / Business & Tech

Baker Bros. Advisors, a major shareholder in Nasdaq-listed Chinese biotech company BeiGene, is offloading about 1.5 million American depositary shares (ADSs) in BeiGene priced at $225 each.

The share sale will come with an over-allotment option allowing the underwriter to buy up to 151,154 additional ADSs within 30 days, meaning that the share seller can raise funds in a range of $340 million to $374 million, according to a statement released on Tuesday.

BeiGene will not receive any of the proceeds from the deal, which is expected to close on Friday, the statement said.

Goldman Sachs is the sole underwriter for the stock sale.

The announcement comes five months after BeiGene announced plans to raise $2.1 billion through a sale of shares to buyers including Baker Bros. Advisors to fund research and market treatments in the U.S. and China.

Founded in 2010, BeiGene focuses on developing molecularly targeted and immuno-oncology drug candidates for the treatment of cancer.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Chinese Biotech Firm Beigene to Raise $2.1 Billion in Stock Sale

 


Share this article
Open WeChat and scan the QR code