Morrison Foerster has represented Shanghai Fosun Pharmaceutical Group, a Chinese healthcare company, in its HK$3.97 billion ($512 million) initial public offering on the Hong Kong Stock Exchange, the third largest Hong Kong IPO this year.
Fosun Pharma is expected to use the net proceeds for future acquisitions of pharmaceutical companies in China and abroad, as well as for the funding of ongoing research and development projects.
Hong Kong-based partners Ven Tan, Gregory Wang and John Moore led the Morrison & Foerster team, while Chen & Co acted as Chinese counsel to Fosun Pharmaceuticals.
Herbert Smith Freehills, led by Hong Kong partner Gary Lock, advised the underwriters on the IPO – UBS AG, China International Capital Corporation, J.P. Morgan Securities, Deutsche Bank AG, Agricultural Bank of China International and Haitong International. Grandall Law Firm advised the underwriters on Chinese law.
Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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