Hansoh Pharmaceutical’s $1 billion Hong Kong Stock Exchange (HKSE) IPO is our deal of the month for June.
Cleary Gottlieb Steen & Hamilton and Li & Partners acted for the issuer, with Clifford Chance and Tian Yuan Law Firm advising joint sponsors and the underwriters led by Morgan Stanley, Citi, UBS, Goldman Sachs and China Merchant Securities. Maples provided Cayman advice.
The drugmaker issued 551 million new shares at HK$14.26 raising $1 billion, making it the second biggest IPO on the HKSE this year.
The pricing values the company at $10.3 billion