I'm a senior editor and the Shanghai bureau chief of Forbes magazine. Now in my 22nd year at Forbes, I compile the Forbes China Rich List. I was previously a correspondent for Bloomberg News in Taipei and Shanghai and for the Asian Wall Street Journal in Taipei.
Akeso, founded in 2012, specializes in antibody drugs that help the immune system fight off disease, including cancer. It sold 24.8 million shares at HK$47.65 each for research spending and other uses, according to the company’s announcement. Akeso’s shares fell by 6.1% in trading at the Hong Kong Stock Exchange on the news, closing at HK$47.60 on Thursday. They slid another 3.1% on Friday.
Akeso’s stock rose to a 2024 high of HK$51.95 on March 15 after the company earlier this month predicted its first-ever annual profit. The Zhongshan-headquartered Akeso went public at the Hong Kong Stock Exchange in 2020 at HK$16.18 a share.
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