Global law firm Ashurst acted as the Hong Kong and U.S. counsel to Fujian Haixi Pharmaceutical Co., Ltd. ("HXPharma"; SEHK: 2637) on its global offering of shares and its listing on The Stock Exchange of Hong Kong Limited (HKEx). This transaction demonstrates the strength of the firm's life sciences capital markets practice and further solidifies its leadership in guiding Chinese pharmaceutical companies to international capital markets.
Huatai Financial Holdings (Hong Kong) Limited and CMB International Capital Limited acted as joint sponsors and sponsor-overall coordinators. SDICS International Securities (Hong Kong) Limited acted as the overall coordinator. Huatai Financial Holdings (Hong Kong) Limited, CMB International Capital Limited and SDICS International Securities (Hong Kong) Limited acted as the joint global coordinators, joint bookrunners and joint lead managers.
HXPharma is a commercial-stage pharmaceutical company that integrates R&D, production and sales capacities, with a pipeline of innovative drug candidates. It has a diversified product portfolio and pipeline in the largest and fastest growing therapeutic areas in China. HXPharma's commercialized product portfolio primarily consisted of generic drugs for digestive system diseases, cardiovascular system diseases, endocrine system diseases, nervous system diseases and inflammatory diseases. Its innovative drug pipeline focuses on drug candidates in a variety of indications, including one potential first-in-class oncology drug candidate, one potential first oral drug therapy for wet age-related macular degeneration (wAMD)/diabetic macular edema (DME)/retinal vein occlusion (RVO), and two other innovative preclinical-stage drug candidates in oncology and respiratory diseases. All of its innovative drug candidates are proprietarily discovered and developed in house.
Commenting on the transaction, lead partner Li Jiang said:
"We are honoured to have acted as Hong Kong and U.S. counsel to HXPharma on its listing in Hong Kong. The success of this IPO not only reflects Ashurst's deep-rooted life sciences expertise but also showcases our ability to provide seamless, cross-border capital markets advice. We hope to continue empowering Chinese innovators, leveraging our global platform to help them unlock opportunities in international capital markets."
The Ashurst team was led by partner Li Jiang, supported by counsel Christy Li, associate Nicole Xu, and trainee solicitors Harry Ng and Yoyo Ho.
