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Chi-Med Raises $100 Million in Private Placement for Cancer Drugs

publication date: Jun 26, 2020

Hutchison China MediTech (Chi-Med) will sell $100 million of its US-listed ADSs to General Atlantic in a private placement. General Atlantic, a growth equity investor, will pay $25 each for the ADSs. General Atlantic has an 18-month option to invest another $100 million in Chi-Med at $30 per ADS. Chi-Med's previous closing price was $26.11. The company, which has a market cap of $3.2 billion and $220 million of cash, will use the proceeds to develop its novel seven-candidate portfolio. More details....

Stock Symbol: (NSDQ/AIM: HCM)

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