CStone Pharmaceuticals’ $285.05 Million Initial Public Offering

Davis Polk advised CStone Pharmaceuticals in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$2.24 billion (US$285.05 million) prior to any exercise of the over-allotment option.

CStone is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative immuno-oncology and molecularly targeted drugs to address significant unmet medical needs in cancer treatment. Founded in 2015, CStone has built a rich oncology pipeline with significant mono- and combination-therapy potential and synergies.

The Davis Polk corporate team included partners Bonnie Y. Chan (Picture) and Li He, counsel Yang Chu, counsel-registered foreign lawyer Xuelin (Steve) Wang, registered foreign lawyer Jennifer (Yujia) Jiang and associate Esther Leung. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice.

Involved fees earner: Bonnie Chan – Davis Polk & Wardwell; Yang Chu – Davis Polk & Wardwell; Veronica Davis – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; Jennifer Jiang – Davis Polk & Wardwell; Esther Leung – Davis Polk & Wardwell; Xuelin Wang – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: CStone Pharmaceuticals;

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Author: Michael Patrini