Ascentage pharma announces closing of placement shares in top-up placement

Rockville, md. and suzhou, china, july 17, 2025 (globe newswire) -- ascentage pharma group international (nasdaq: aapg; hkex: 6855) (“ascentage pharma” or the “company”), a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers, announced the closing of an offshore placement (the “offshore placement”), pursuant to which dajun yang dynasty trust, an affiliate of the company's chief executive officer, dajun yang, m.d., ph.d. (the “vendor”), offered and sold 22 million ordinary shares, par value us$0.0001 per share, of the company (the “placement shares”) at a price of hkd68.60 per share. in connection with the offshore placement, the vendor has subscribed for, and the company will issue to the vendor, 22 million new ordinary shares of the company (the “replacement shares”) at a price of hkd68.60, resulting in net proceeds to the company of approximately hkd1,492 million (approximately us$190.1 million based on an exchange rate of 1 usd to 7.85 hkd).   the issuance of the replacement shares is expected to take place by july 28, 2025. the newly issued equity capital in the company will represent approximately 6.29% of the company's issued share capital prior to the closing of the offshore placement. these transactions were conducted in accordance with the terms of the placing and subscription agreement by and among the company, the vendor and j.p. morgan (asia pacific) limited and citigroup global markets limited, each in the role of a placing agent, dated july 14, 2025.
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