Skadden, Arps, Slate, Meagher & Flom and Han Kun Law Offices are acting for Chinese biopharma company Innovent Biologics on its HK$3.3 billion ($421 million) listing on the Hong Kong Stock Exchange, with Davis Polk & Wardwell and Commerce & Finance Law Offices advising the underwriters.
According to Reuters, the Chinese biotech, which is backed by mutual fund giant Fidelity and Singapore state investor Temasek Holdings - sold about 236 million new shares, or 21 percent of enlarged share capital, at HK$13.98 ($1.78) each. That was near the top end of a price range of HK$12.50 to HK$14.00, making it Hong Kong’s biggest biotech IPO this year.
Innovent plans to use the IPO proceeds to fund ongoing and planned clinical trials, prepare for registration filings, and for commercial launches of drugs including sintilimab, Reuters added.
The Skadden team was led by Hong Kong partner Julie Gao, while the Han Kun team was led by Beijing partner Yijun Chao and Shanghai partner Li Zhang. The Commerce & Finance team was led by Beijing partner Bo Wang. Maples and Calder advised the issuer on Cayman Islands law.
世达国际和美国达维牵头完成今年香港生物科技第一股
世达国际律师事务所和汉坤律师事务所就信达生物制药于香港联合交易所有限公司主板上市和全球发售提供法律服务，信达生物此次募资规模约33亿港元（约合4.21亿美元）。此次交易中，美国达维律师事务所和通商律师事务所为其承销商提供法律服务。
据路透社报道，信达生物获得富达集团、淡马锡等全球多家知名创投基金的资金支持。此次首次公开招股，以每股13.98港元（约合1.78美元）的价格发售2.36亿股，占扩大股本后的21%。13.98港元的发行价已接近港元招股区间12.50港元至14港元的高端，将成为今年香港生物科技第一股。
信达生物此次募集资金拟用于拨资正在进行及计划中的临床试验、注册备案准备事宜，以及包括信迪利单抗等药物的商业化推广，另据路透社报道。
世达国际律师事务所团队由香港合伙人高准主导，汉坤律师事务所由北京合伙人晁毅军和上海合伙人张漓主导，通商律师事务所由北京合伙人王波主导。迈普达律师事务所担任发行人的开曼群岛法律顾问。
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