Jan 23 (Reuters) - Ascentage Pharma ( ASPHF ) said on

Thursday it aims to raise $126.4 million in an initial public

offering in the United States, becoming the first sizeable

Chinese firm to seek a listing in the U.S. this year.

Ascentage, backed by Japan's biggest drugmaker Takeda

Pharmaceutical ( TAK ) aims to raise $126 million by offering

about 7.3 million American depositary shares at $17.25 each,

below its initial plan to offer shares at $20.34 apiece.

China-based Ascentage, whose shares have been listed on the

Hong Kong stock exchange since 2019, is focused on developing

and commercializing therapies that target malignancies.

Ascentage will list on the Nasdaq under the symbol "AAPG."

J.P.Morgan and Citigroup are the underwriters for the offering.