BeiGene Proposes $800+ Million Offering

 BeiGene, Ltd. (NASDAQ:BGNE) announced on 7/27/18 a Hong Kong initial public offering and a global offering (the “Offering”) of 65,600,000 of its ordinary shares and the proposed listing of the Shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “SEHK”). BeiGene’s American Depositary Shares (“ADS”) are currently listed on the Nasdaq Global Select Market under the symbol “BGNE.”  Each ADS represents the right to receive 13 ordinary shares.

At the current price of the American Depositary Shares the offering would amount to a $800+ million raise. 91 percent of the shares are reserved for institutional investors.

This has been a busy week for BeiGene. On July 25th the company announced they had Initiated a Ph III Trial of  its PD-1 Inhibitor Tislelizumab.  In addition to Tislelizimab, the company has three other candidates in clinical development (Zanubrutinib, Pamiparib, Lifirafenib)

Though a little off its 52 week high, BeiGene's US shares have appreciated more 136% over the previous year as of this writing.