(Yicai Global) July 14 -- Beigene’s stock price touched an all-time high after the Chinese cancer therapy developer said it plans to raise USD2.1 billion in the biggest ever sale of shares by a biotech company.

Beigene's shares [HKG: 6160] ended 12.7 percent higher in Hong Kong today at HKD137 (USD17.68) each, after climbing as much as 16 percent to HKD141.10. That advance came after its New York-listed stock [NASDAQ: BGNE] closed 8.7 percent up at USD213.01 yesterday, after reaching USD223.53 in intraday trade, a 14 percent gain.

Theimmuno-oncologyfirm will issue 146 million new shares via a direct offering to major shareholders, equaling nearly 13 percent of the total after the sale, the Beijing-based company said in a statement yesterday. At USD14.23 each, or USD185 per American depositary share, the new stock has a 5.6 percent discount compared with the closing price on July 12.

Buyers included California-based generics giant Amgen, which will maintain a stake of about 20 percent stake in the Beigene, as well as New York hedge fund managerBaker Bros.Advisors, along with Hillhouse Capital Management.

Founded in 2011, Beigene is the first Chinese biopharmaceutical company to list in the US and in Hong Kong. Its initial public offering on the Nasdaq took place in 2016 and the secondary offering followed in 2018.

Beigene will use the proceeds from the sale to advance its cancer treatment development and look at expanding into other fields, yesterday's statement added.

Last year, Beigene’s net loss widened 41 percent to USD949 million on a doubling in revenueto USD428 million from a year earlier.

Editor: Emmi Laine