Press Release

Morrison & Foerster Completes Sinopharm’s HK$3.45 Billion H-Share Placement

11 May 2011

Firm advised CICC, UBS and Morgan Stanley as placing agents in the offering for China’s largest pharmaceutical products distributor

Hong Kong, May 11, 2011 – Morrison & Foerster recently advised China International Capital Corporation (“CICC”), UBS AG, Morgan Stanley & Co. International plc. as placing agents for Sinopharm Group Co. Ltd.’s (“Sinopharm”) new H-Share placement raising approximately HK$3.45 billion (US$440 million).  Sinopharm is the largest distributor of pharmaceutical and healthcare products in China.

Morrison & Foerster’s Hong Kong partner Charles Chau led the transaction team.

The firm also acted as Hong Kong and U.S. legal counsel to the underwriters CICC, UBS, Morgan Stanley, Citigroup, and Deutsche Bank in Sinopharm’s US$1.1 billion IPO in 2009, which was not only one of the largest global IPOs of that year but also won a number of industry accolades including FinanceAsia’s 2009 Best IPO Deal of the Year Award and IFR Asia’s 2009 Asia Equity Deal of the Year. 

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