Quarterly report pursuant to Section 13 or 15(d)

Shareholders' equity

v3.7.0.1
Shareholders' equity
 3 Months Ended
Mar. 31, 2017
Shareholders' equity  
Shareholders' equity

Note 10 — Shareholders’ equity

 

Follow-on public offering

 

On March 27, 2017, the Company completed an underwritten public offering of the Company’s American Depositary Shares (“ADSs”). The Company sold 15,700,223 ADSs (representing 94,201,338 ordinary shares) at a price to the public of $4.20 per ADS.  The net proceeds were $61,397,000 after deducting offering expenses of $4,544,000.