Hillhouse Invested About $1 Billion In Beigene’s Share Sale

Shares in Chinese biotechnology company Beigene Ltd. jumped the most in eight months after Hillhouse Capital invested about $1 billion in the largest equity financing ever by a biotech company.

The Asian private equity firm’s stake in Beigene increased to about 12.7%, according to a regulatory filing Tuesday confirming an earlier report by Bloomberg News.

Hillhouse acted as the anchor investor for the $2.1 billion direct offering of 145.8 million ordinary shares to fund drug research and market its treatments in the U.S. and China. The shares were priced at $14.23, or $185 per U.S. share, which is worth 13 ...