Cooley, CYL & Partners and DeHeng Law Offices have advised China’s Asymchem Laboratories on its HK$6.85 billion ($878 million) secondary listing in Hong Kong, with Latham & Watkins and JunHe representing the joint sponsors.

This is believed to be the biggest healthcare IPO in Hong Kong this year. The company has been listed on the Shenzhen Stock Exchange since 2016.

Asymchem is a Chinese contract development manufacturing organisation (CDMO) serving the global pharmaceutical industry. According to Frost & Sullivan, it is the world’s fifth-largest drug substance CDMO by revenue, and the largest China-based commercial stage chemical drug CDMO.

The Cooley team was led by partners Yiming Liu and Michael Yu.

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