05:32 PM EST, 11/13/2024 (MT Newswires) -- Zai Lab ( ZLAB ) said late Wednesday it has launched a $200 million public offering of its American depositary shares.

The firm expects to grant a 30-day option to its underwriters, including Goldman Sachs and Jefferies, to acquire up to an additional 15% of the ADSs sold in the offering. Each ADS represents 10 ordinary shares.

Zai Lab ( ZLAB ) said it plans to use the net proceeds for general corporate purposes.

The company's shares were down about 8.8% in after-hours activity.

Price: 27.31, Change: -2.64, Percent Change: -8.83