Linklaters acted as bookrunners’ counsel on the successful completion of placing of new shares for Innovent Biologics, Inc. (Innovent Biologics) and placing of existing shares and top-up subscription of new shares for Keymed Biosciences Inc. (Keymed Biosciences) on the Hong Kong Stock Exchange (HKEX), raising approximately HK$4.31bn and HK$864m, respectively.
Innovent Biologics is a leading biopharmaceutical company with pioneering innovations in the fields of oncology, cardiovascular and metabolic diseases, autoimmune diseases and ophthalmology which have since been able to treat some of the most intractable diseases. The net proceeds from the transaction will primarily be used for the global R&D and arrangement of clinical and preclinical programmes, as well as for building the global infrastructure and facilities. This transaction marks one of the largest new share placements in the healthcare sector in Hong Kong SAR over the past four years.
Keymed Biosciences is a comprehensive biopharmaceutical company focussing on the independent research, development, and manufacturing of innovative drugs. The company successfully completed the placement of existing shares and top-up subscription of new shares under the general mandate, aiming to support the company’s financial strength, market competitiveness, and to promote the long-term health and sustainable development of the company.
The Linklaters team was led by corporate partner Donnelly Chan and capital markets partner Lipton Li, with support from counsel Christian Felton and Gary Tsang.
Linklaters has a track record of advising clients in the healthcare sector. The firm’s clients are many of the world’s leading players, ranging from pharmaceutical, biotech, and medical equipment manufacturing organisations, through to healthcare services groups, banks, private equity houses and sovereign wealth funds.