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Freshfields advises Shanghai Henlius Biotech, Inc. on its Hong Kong IPO
Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Shanghai Henlius Biotech, Inc. (‘Henlius’) on the global offering and listing of its H shares on the Hong Kong Stock Exchange (‘HKSE’). The transaction involved a spin-off listing from both HKSE-listed Fosun International and A and H share listed Shanghai Fosun Pharmaceutical. Following the listing, Henlius will remain a subsidiary of both Fosun International and Shanghai Fosun Pharmaceutical. Trading in the Henlius H shares commenced today (25 September 2019) and total proceeds raised were HK$3.2bn (US$400m).Henlius is a leading biopharmaceutical company in China with the vision to offer high-quality, affordable and innovative drugs for patients worldwide. It is the first biopharmaceutical company to receive New Drug Application approval for a monoclonal antibody biosimilar in the PRC and the first company to commercially launch a monoclonal antibody biosimilar in the PRC. It intends to use the proceeds of the IPO to fund ongoing clinical trials, regulatory filing and registration of new drugs and therapies in its pipeline.
The Freshfields team advising on the transaction was led by partners Grace Huang and Arun Balasubramanian.
ENDS
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