Hutchison China MediTech Ltd. said it is planning to sell US$110 million of its American depositary shares in a public offering.
The Hong Kong-based biopharmaceutical company also plans to grant underwriters a 30-day option to buy up to an additional US$16.5 million of ADSs in total at the same price.
Each ADS represents five ordinary shares of the company.
Chi-Med plans to use net proceeds for research and development and to expand its commercialization capabilities.
BofA Securities Inc., Goldman Sachs (Asia) LLC and Morgan Stanley & Co. LLC are acting as joint global coordinators and joint book runners for the offer.
Chi-Med develops therapies for cancer and autoimmune diseases.