On May 30, 2013, Access Bio, Inc., a New Jersey corporation (“Access Bio”), successfully listed Korean Depositary Shares (KDSs), representing the shares of the common stock of Access Bio and evidenced by Korean Depositary Receipts, on the KOSDAQ Market of the Korea Exchange. Access Bio was formed in 2001 to develop, manufacture and distribute in vitro diagnostics test kits for the detection of genetic diseases worldwide. The initial public offering (IPO), valued over 22,888,431,000 million won (approx. US$20.2million), was only the second IPO by a U.S. corporation in The Republic of Korea and the first IPO by a U.S. corporation through the offering of KDSs. The IPO comprised 5,086,318 shares of common stock of Access Bio in a public offering in The Republic of Korea in reliance on Regulation S of the United States Securities Act of 1933, as amended.
Greenberg Traurig, LLP acted as special U.S. counsel to Access Bio. The Greenberg Traurig team was led by Corporate & Securities shareholders Chang Joo Kim and Hyun Chung from Greenberg Traurig’s Seoul office; Alan Annex from New York; Barbara Jones from Boston and Robert Wexler from New Jersey as well as Tax shareholder Mary Voce from New York and supported by associate Sun-Young Park.
Greenberg Traurig, LLP opened its 36th office in Seoul, Korea as Greenberg Traurig LLP Foreign Legal Consultant Office in early 2013. The Seoul office provides legal advice with respect to U.S. law, international treaties involving the U.S., and universally recognized international law, and is permitted to represent clients in international arbitration cases when U.S. law is applicable. Foreign Legal Consultant Offices may not render legal advice on Korean law matters.
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