Shanghai and Hong Kong, May 27, 2011, King & Wood advised Goldman Sachs, Deutsche Bank, Credit Suisse and CICC as joint sponsors and joint bookrunners of Shanghai Pharmaceuticals Holding’ s HK$15.2 billion (or US$1.95 billion) H Share IPO on the Hong Kong Stock Exchange on May 20, 2011.
The deal was priced at HK$23.00 with approximately 664 million shares sold raising approximately US$1.95 billion. King & Wood acted as joint Hong Kong counsel along with Clifford Chance and PRC counsel for the joint sponsors and joint bookrunners.
“We are delighted to have advised the joint bookrunners on Shanghai Pharma’ s IPO, which is the largest IPO in Hong Kong year-to-date, the largest pharmaceutical IPO in Asia (ex Japan) ever and the largest pharmaceutical IPO globally in the past 5 years”, said Mr. Zhang Yi and Ms. Candy Chan, lead partners on the transaction.
The King & Wood team on this transaction was led by Shanghai partners Zhang Yi and Zhang Mingyuan, supported by consultant Liu Dongya on the PRC law issues and Hong Kong partner Candy Chan supported by associate Kanne Leung on the Hong Kong law issues.
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