On January 28, 2025, Ascentage Pharma Group International announced the closing of its U.S. initial public offering of 7,325,000 American depositary shares (ADSs) at a public offering price of $17.25 per ADS, before underwriting discounts and commissions. Each ADS represents four ordinary shares of Ascentage Pharma. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Ascentage Pharma, were approximately $126.4 million. In addition, Ascentage Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,098,750 ADSs at the initial public offering price, less underwriting discounts and commissions. The ADSs began trading on the Nasdaq Global Market on January 24, 2025.

Ascentage Pharma is a global, integrated biopharmaceutical company engaged in discovering, developing, and commercializing therapies to address global unmet medical needs, primarily in hematological malignancies. Ascentage Pharma has been listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code 6855.HK since October 2019 and has also been listed on the Nasdaq Global Market under the ticker symbol “AAPG” since January 2025.

Wilson Sonsini Goodrich & Rosati acted as U.S. and Hong Kong counsel to Ascentage Pharma in connection with the above transactions. The Wilson Sonsini team was led by partners Weiheng Chen, Steven Bernard, Megan Baier, Jennifer Fang, David Sharon, and Winfield Lau, and included Hyo Min Kim, Brett Schulman, Mesha Rivers, Billy Yiu, Kennedy Ukelegharanya, and Kelly Cheng.