ZLAB Stock Rises as Zai Lab Plans ADS Offering

Nov 15, 2024

Zai Lab Limited (ZLAB, Financial) experienced a 2.4% increase in its stock price, reaching $27.31 during pre-market trading. This movement follows the company's announcement of its plan to offer a total of 7.8431 million American Depositary Shares (ADS), representing an approximate 8.3% increase in expanded ordinary shares. Each share is priced at $25.5, which is equivalent to HK$19.84 per share.

The company anticipates raising between $188 million and $216 million, or HK$14.61 billion to HK$16.82 billion, from this offering. The funds are intended for general corporate purposes. Additionally, a report by a financial institution highlighted that Zai Lab's net loss in the third quarter has significantly narrowed, surpassing market expectations.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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