SINGAPORE and NORTH BRUNSWICK, N.J. and HANGZHOU, China, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Adlai Nortye Ltd. (NASDAQ:ANL) (the "Company" or "Adlai Nortye"), a clinical-stage biotechnology company focused on the development of innovative cancer therapies, today announced the closing of its previously announced initial public offering of 2,500,000 American depositary shares ("ADSs"), each representing three Class A ordinary shares at a public offering price of US$23.00 per ADS. All of the ADSs were offered by Adlai Nortye. In addition, Nippon Kayaku Co., Ltd., a chemical company headquartered in Japan, acquired a total of 5,217,391 Class A ordinary shares from Adlai Nortye in a private placement concurrent with the closing of the public offering at the same per share purchase price. Adlai Nortye received aggregate gross proceeds of US$57.5 million from the public offering (before deducting underwriting discounts and commissions and offering expenses) and US$40.0 million from the concurrent private placement.
The ADSs began trading on the Nasdaq Global Market on September 29, 2023 under the ticker symbol "ANL".
Cantor Fitzgerald & Co. acted as sole book-running manager for the public offering.
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