Alphamab Oncology’s $234 Million Initial Public Offering

Latham & Watkins LLP represented the underwriters in the transaction.

Alphamab Oncology raised approximately HK$1.83 billion (US$234 million) in its Hong Kong initial public offering. The company has sold 179,403,000 shares at an offer price of HK$10.2 per share with nearly 200 times oversubscription in the Hong Kong public offering.

Morgan Stanley Asia Ltd., CLSA Capital Markets Ltd. and Jefferies Hong Kong Ltd. acted as joint sponsors for the transaction.

Alphamab Oncology is a biopharmaceutical company based in Suzhou, China. As a leading clinical-stage biopharmaceutical company in China with a fully integrated proprietary biologics platform in bispecifics and protein engineering, Alphamab focuses on the development of technologies and platforms of antibody-based therapies for oncology treatment. Alphamab intends to use the raised funds for the construction of its new manufacturing and research and development facilities in Suzhou and for working capital and general corporate purposes.

Latham & Watkins LLP represented the underwriters in the transaction with a cross-border capital markets team led by Hong Kong partners Cathy Yeung (Picture), Allen Wang and Terris Tang, and San Diego partner Michael Sullivan, with Hong Kong partner Dominik Sklenar, Hong Kong counsel Louis Rabinowitz and Mandy Wong, Hong Kong associates Wei Wei, Carson Wong and Jonathan Leung, San Diego associate Jeffrey Woodley, Beijing associate Fan Wang. Advice was also provided by Washington, D.C. partners Elizabeth Richards, Ben Haas, David Frazier and Mike Morin and New York partner Alan Tamarelli.

Involved fees earner: David Frazier – Latham & Watkins; Ben Haas – Latham & Watkins; Jonathan Leung – Latham & Watkins; Michael Morin – Latham & Watkins; Louis Rabinowitz – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Dominik Sklenar – Latham & Watkins; Michael Sullivan – Latham & Watkins; Alan Tamarelli Jr. – Latham & Watkins; Terris Tang – Latham & Watkins; Fan Wang – Latham & Watkins; Allen Wang – Latham & Watkins; Wei Wei – Latham & Watkins; Carson Wong – Latham & Watkins; Mandy Wong – Latham & Watkins; Jeffrey Woodley – Latham & Watkins; Cathy Yeung – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: CLSA; Jefferies Hong Kong Ltd.; Morgan Stanley Asia Limited;

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Author: Michael Patrini