Davis Polk advised JOINN Laboratories on the deal.
JOINN Laboratories (China) Co., Ltd. finalized its initial public offering and listing on the Hong Kong Stock Exchange and a global offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to HK$6.5 billion (US$844 million) prior to any exercise of the over-allotment option. This is the largest biopharmaceutical IPO in Greater China and the largest Hong Kong offering by an A-share listed company since Davis Polk advised Tigermed on its IPO in 2020.
JOINN Laboratories is a non-clinical CRO focused on drug safety assessment, with an expanding portfolio of R&D services covering discovery, pre-clinical and clinical trial stages in the drug R&D service chain. The A shares of JOINN Laboratories have been listed on the Shanghai Stock Exchange (stock code: 603127) since August 2017.
The Davis Polk corporate team included partners Li He (Picture) and Yang Chu, counsel – registered foreign lawyer Kevin Zhang, counsel Kai Sun and associate Edwin Lee. Associate Veronica Davis provided tax advice.
Involved fees earner: Yang Chu – Davis Polk & Wardwell; Veronica Davis – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; Edwin Lee – Davis Polk & Wardwell; Kai Sun – Davis Polk & Wardwell; Kevin Zhang – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;
Clients: JOINN Laboratories;