05:20 AM EDT, 07/17/2025 (MT Newswires) -- Ascentage Pharma Group International ( AAPG ) said Thursday it closed an offshore share placement with an affiliate of Chief Executive Dajun Yang, generating expected net proceeds of about 1.49 billion Hong Kong dollars ($189.8 million).

The company will issue 22 million new shares to Dajun Yang Dynasty Trust at HK$68.60 each, it said.

Ascentage expects the share issuance to take place by July 28, with the net proceeds to go toward financing commercialization, global clinical trials, and operational expansion of the company.