HONG KONG (December 30, 2015) –Morrison & Foerster’s Hong Kong capital markets team has today successfully completed the HK$524 million IPO by Genscript Biotech Corporation, marking the second year in a row in which Morrison & Foerster closed the financial year with the final IPO listing on the Hong Kong Stock Exchange.
Morrison & Foerster represented the sole sponsor, Haitong International Capital Limited, and the underwriters, Haitong International Securities Company Limited, J.P. Morgan Securities (Asia Pacific) Limited, J.P. Morgan Securities plc, KGI Capital Asia Limited, and RHB Securities Hong Kong Limited, acting as counselon Hong Kong law, U.S. law and United Nations Security Council Resolutions, as well as E.U. sanctions law. Hong Kong capital markets partner Charles Chau led the multi-office deal team.
The IPO is the second of its type listed on the Hong Kong Stock Exchange. Mr. Chau also led the team for the HK$185 million IPO by Shanghai-based BBI Life Sciences Corporation, the first company engaged in the provision of DNA synthesis products, genetic engineering services, life sciences research consumables and protein and antibody related and services listed in Hong Kong.
“The effectiveness of our highly integrated teams and our global platform allowed us to draw on the extensive experience of other international offices to resolve critical issues such as foreign sanctions law issues that arose during the transaction,” noted Mr. Chau.
“Our particular strength in technology and life sciences and pharma sector-related capital markets transactions have continued to earn us representations in this space, demonstrating the caliber and breadth of our practice offering,” continued Ven Tan, Managing Partner of Morrison & Foerster’s Hong Kong office and head of the Hong Kong capital markets team. “Hong Kong capital markets have remained extremely active in 2015. We look forward to continued success in 2016, both for the Hong Kong capital markets and also for the Morrison & Foerster team.”