Adlai Nortye Ltd. said late Thursday it plans to offer three million American depositary shares at an estimated price of $22 to $26 a share in its initial public offering on the Nasdaq under the symbol “ANL”. The Cayman Islands-based clinical-stage cancer treatment company with operations in the U.S. and China will raise about $72 million at the midpoint of its estimated price range with underwriter Cantor Fitzgerald and CLSA. Japanese chemical company Nippon Kayaku Co. Ltd. has agreed to buy $40 million in Class A ordinary shares from Adlai Nortye in a private placement.
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