Skadden, Arps, Slate, Meagher & Flom and Fangda Partners have counselled Chinese Nasdaq-listed biotech company BeiGene on its $903 million dual primary listing in Hong Kong, with Davis Polk & Wardwell and JunHe advising the joint sponsors and underwriters.

The IPO, which is Hong Kong’s biggest biotech IPO till date, is also the first dual primary listing of a Nasdaq-listed biotech company.

The listing comes as Hong Kong works to lure overseas-listed firms to conduct secondary share offerings in the financial hub, said Reuters. Hong Kong’s stock exchange is seeking to establish itself as a financing centre for the growing number of pre-revenue drug developers.

BeiGene is a biopharmaceutical company focused on developing and commercialising molecularly targeted and immuno-oncology drugs for the treatment of cancer.

The Skadden team was headed by partners Christopher W. Betts and Andrea L. Nicolas, while partner Pamela Lawrence Endreny assisted on tax matters. Mourant Ozannes advised BeiGene on Caymans law.

 

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