ASLAN Pharma to hold private auction of shares in Taiwan - Reuters


ASLAN Pharma to hold private auction of shares in Taiwan

ASLAN Pharma to hold private auction of shares in Taiwan

Tue May 9, 2017 - 07:47am UTC

ASLAN Pharmaceuticals, a biotechnology company based in Singapore has announced that it will conduct a competitive auction and public offer of common shares for its initial listing on Taipei Exchange (TPEx).

KGI will be the leading underwriter for the auction which funds are targeted to raise US$40 million intended for its public listing on the Taipei Exchange.

The pharmaceutical company will be offering a totaled amount of 13,012,000 shares to the public, of which 10,409,000 share shares are offered via competitive auction and 2,602,000 shares are up for a public subscription when the competitive auction ends.

The competitive auction will be held from 10 to 12 May 2017 with its minimum bid price set at NT$64 per share. The minimum bidding unit for each buyer is 1,000 shares.

This auction is expected to raise funding up to NT$666,176,000, which translates to about US$22.06 million.

Winning bids will be decided by the American auction format and the bids opening are slated to take place on 16 May 2017. ASLAN expects to start trading on TPEx in early June 2017.

Meanwhile, the public subscription will begin on 18 May 2017, and it will be based on the weighted average of all successful bids from the competitive auction.

The ceiling price will be 1.25 times the minimum bid price, or NT$80. This is expected to raise $NT208,160,000 (US$6.89 million).

Founded in 2010, the company focuses on the development of immunotherapies and targeted agents for Asia prevalent tumor types. The startup is led by a team of highly-experienced industry veterans with a strong track record in clinical development.

ASLAN currently has a pipeline of five novel compounds focusing on the treatment of Asia-prevalent tumors. Its lead asset, Varlitinib has commenced a global pivotal study in biliary tract cancer following the Investigational New Drug approval from the US Food & Drug Administration.

ASLAN has been able to generate revenues through two out licensing deals, attract international institutional investors, and forge strong partnerships with world-leading research institutions and international biopharmaceutical companies.

For content enquiry, please reach us at

Latest News >

Affiliate marketing startup Indoleads to raise angel funding

Indoleads can provide additional traffic source for affiliate marketing by managing publishers, analyzing traffic, detecting fraudulent activity, and integrating with other networks.

09:29am UTC

JustCo, Gunung Sewu to form co-working space joint venture

The joint venture’s first coworking space at Sequis Tower, Jakarta is slated to open next July.

07:26am UTC

Tessa Therapeutics secures US$80 million to change cancer therapy

Tessa Therapeutics is a biopharmaceutical company focused on developing T Cell therapy for solid tumors.

05:39am UTC

Clearbridge Health debuts on Singapore Stock Market

Clearbridge Health Ltd has started trading on the local stock exchange today.

12:07pm UTC

Starhub to acquire cryptographic technology company D’Crypt in US$90 million deal

The acquisition will be splitted into two phases and is slated to complete by the first half of 2021.

16:12pm UTC