Skadden, Arps, Slate, Meagher & Flom has advised Shanghai-based biopharmaceutical company JHBP (CY) Holdings, a holding company for Genor Biopharma, on its HK $2.87 billion ($371 million) IPO in Hong Kong, with Kirkland & Ellis representing the joint sponsors and the underwriters.
Founded in 2007, Genor is a biopharmaceutical company focusing on developing and commercializing oncology and autoimmune drugs The public offering was oversubscribed 1,247 times, making it one of the most sought-after biotech IPOs in Hong Kong this year.
The offering is part of a recent flurry of IPOs and secondary listings worth at least $4.5 billion currently being launched in Hong Kong, with Reuters reporting that 2020 is on track to be the second-busiest year for equity capital markets in the city. Recently, Chinese companies Yum China Holdings, Zai Lab and ZTO Express undertook successful secondary listings on HKEX while Ming Yuan Cloud Group went public in Hong Kong.
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