Shearman & Sterling advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. as joint global coordinators and joint bookrunners on Hutchison China MediTech Limited’s (Chi-Med) US initial public offering of American depositary shares on the NASDAQ Global Select Market.
Upon completion, the ordinary shares of Chi-Med will continue to be traded on the AIM market of the London Stock Exchange.
Majority-owned by the Hong Kong-listed CK Hutchison Holdings Limited, Chi-Med is a China-based, globally focused healthcare group that researches, develops, manufactures and sells pharmaceuticals and health-related consumer products.
While China-Med’s innovation platform is focused on discovering and developing therapeutics in oncology and autoimmune diseases, the commercial platform manufactures, markets and distributes prescription drugs and consumer health products in China.
The Shearman & Sterling team was led by partner Matthew Bersani (Hong Kong-Capital Markets), with support from counsel Mark Kessel (New York-Capital Markets) and Hae-Ran Song (Hong Kong-Capital Markets), associate Leo Wong (Hong Kong-Capital Markets) and senior legal assistant Derek Perriam (Hong Kong-Capital Markets).
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