Summary
BeOne Medicines Ltd. (ONC), now operating as BeiGene, Ltd., announced on August 2, 2018, the pricing of a significant global offering of ordinary shares. The offering is expected to raise approximately US$903 million before expenses, with the issuance of 65,600,000 ordinary shares at HK$108.00 per share (approximately US$13.76). This move represents a dual listing strategy, as the company's ordinary shares are set to begin trading on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK) under the stock code '06160' on August 8, 2018. This complements their existing listing of American Depositary Shares (ADSs) on the NASDAQ under the symbol 'BGNE'. The company has entered into an International Underwriting Agreement to facilitate this offering, which is subject to customary closing conditions. Investors should note that this offering is subject to market conditions and potential risks, as detailed in the company's SEC filings. The proceeds from this offering will bolster BeiGene's financial position, enabling further investment in its operations and growth initiatives.
Key Highlights
- 1BeiGene, Ltd. (ONC) priced a global offering of 65,600,000 ordinary shares.
- 2The offering is expected to generate gross proceeds of approximately US$903 million.
- 3Shares are priced at HK$108.00 per share, equivalent to approximately US$13.76.
- 4The company's ordinary shares will be dual-listed, trading on the Hong Kong Stock Exchange (SEHK) starting August 8, 2018.
- 5This offering complements the existing listing of BeiGene's ADSs on the NASDAQ.
- 6An International Underwriting Agreement has been executed, with customary representations and indemnifications.
- 7The offering is subject to market conditions and customary closing conditions.