A Chinese pharmaceutical company focused on developing cancer treatments is preparing to go public on the Hong Kong stock exchange, with plans to raise as much as $117 million, according to financial documents obtained by Reuters.
Impact Therapeutics plans to sell 41.98 million shares with prices ranging from HK$19.75 to HK$21.75 per share, which translates to approximately $2.52 to $2.78 in U.S. dollars.
The fundraising total could potentially reach $134 million if investment banks exercise their option to purchase additional shares beyond the initial offering.
Several major investors have already committed to purchasing shares, including technology giant Tencent and five other cornerstone investors, who together plan to buy approximately $35.7 million worth of stock.
The company has scheduled May 11 as the date to finalize share pricing, with trading expected to commence on May 13 on the Hong Kong exchange.
