General Atlantic, a global growth equity investor, has invested $100m in Hutchison China MediTech (Chi-Med) via a private placement. The new shares, in the form of 4.0m ADS (each equivalent to 5 ordinary shares) are priced at $25.00 per ADS, a 10.4% premium to the prior 30 day volume weighted average price. The fund raise could increase to $200m as it includes a warrant, valid for 18 months, to purchase an additional $100m of ADS at a price of $30.00 (a 32.5% premium to the prior average price).
25 Jun 2020
General Atlantic invests $100m at 10% premium
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General Atlantic invests $100m at 10% premium
HUTCHMED (China) Limited (HCM:LON) | 267 -2.7 (-0.4%) | Mkt Cap: 2,326m
- Published:
25 Jun 2020 -
Author:
Lala Gregorek -
Pages:
2
General Atlantic, a global growth equity investor, has invested $100m in Hutchison China MediTech (Chi-Med) via a private placement. The new shares, in the form of 4.0m ADS (each equivalent to 5 ordinary shares) are priced at $25.00 per ADS, a 10.4% premium to the prior 30 day volume weighted average price. The fund raise could increase to $200m as it includes a warrant, valid for 18 months, to purchase an additional $100m of ADS at a price of $30.00 (a 32.5% premium to the prior average price).