Jan 21 (Reuters) - China-based Ascentage Pharma ( ASPHF )

said on Tuesday it was targeting a valuation of $1.75

billion in its initial public offering in the United States.

Ascentage, backed by Japan's biggest drugmaker Takeda

Pharmaceutical ( TAK ), is seeking $149 million by offering

about 7.3 million American depositary shares at $20.34 each.

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

offering.

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