Ascletis Pharma Debuts as First Biotechnology Hong Kong IPO under New Listing Rules
Beijing and Hong Kong – Paul Hastings LLP, a leading global law firm, announced today that the firm advised Morgan Stanley, Goldman Sachs and China Merchant Securities as the joint sponsors in Ascletis Pharma’s US$400 million global offering and Hong Kong IPO, which is the first biotechnology company listing on the Main Board of the Hong Kong Stock Exchange under Chapter 18A, the new chapter of the Listing Rules effective since April 2018 designed to attract early-stage biotech companies. The Paul Hastings team provided innovative legal advice and worked efficiently on the transaction that was completed in less than five months since the formal kick-off.
Ascletis Pharma is a Chinese biotechnology company focusing on developing and commercializing innovative best-in-class drugs against Hepatitis B, Hepatitis C and HIV, and has a robust R&D pipeline with multiple breakthrough drug candidates.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.