AKESO (09926) proposes to place a total of 20 million placing shares, raising approximately HK$1.941 billion net.

AKESO (09926) announces that on October 14, 2026 (before trading hours), the Company entered into a placing agreement with the placing agent, pursuant to which the Company has conditionally agreed to place, through the placing agent, an aggregate of 20 million placing shares to not fewer than six placees at a price of HK$97.76 per placing share. The placing price of HK$97.76 per placing share represents a discount of approximately 6.90% to the closing price of HK$105.00 per share as reported by the Stock Exchange on October 13, 2026. The placing shares will represent approximately 2.13% of the Company's enlarged issued share capital (assuming the maximum number of placing shares is placed and there is no change in the Company's issued share capital during the period from the date of this announcement to the completion of the placing). Assuming all 20 million placing shares are fully subscribed, upon completion of the placing, the gross proceeds will be approximately HK$1.955 billion, and the net proceeds from the placing (after deducting placing commission and other related expenses and professional fees) are estimated to be approximately HK$1.941 billion. The net proceeds from the placing will be used for the following purposes: (i) 85% will be used for the Company's innovative R&D pipelines and platforms globally and in China, as well as the construction of global and China R&D platforms, including clinical development activities, including clinical trials of ivonescimab and cadonilimab in major indications, other global multi-center clinical trials, and clinical research of non-oncology products; and preclinical research and development of next-generation therapeutic technologies (such as ADC, TCE, siRNA, mRNA and other technologies), together with the construction and expansion of related infrastructure and equipment and the development of the Company's self-built artificial intelligence platform; (ii) 5% will be used for the commercialization of existing approved products, namely Kaitanni (cadonilimab, PD-1/CTLA-4), Yidafang (ivonescimab, PD-1/VEGF) and the Company's autoimmune products, to further strengthen their market position and expand hospital and patient coverage; and (iii) 10% will be used for general corporate purposes, including payment of supplier amounts, employee remuneration and benefits, and other general management and administrative expenses incurred in the ordinary course of business of the Group. The Board believes that the placing will broaden the Company's shareholder base and capital base. In addition, the net proceeds from the placing will strengthen the Group's financial position for future development. Accordingly, the Board believes that the placing is in the overall interests of the Company and its shareholders. Although the Company completed the 2025 placing in September 2025 and retained certain unused proceeds, the accelerated R&D progress of the Company's clinical pipeline products, together with the expansion of commercialization activities, has resulted in additional funding needs. As a pioneer and global leader in the field of bispecific antibody and multispecific antibody therapeutics, the Company believes that the proceeds from the placing are crucial for the Company to capture new business opportunities and maintain its leadership position in the future.