WuXi Biologics’ Hong Kong $510 Million Initial Public Offering

Shearman & Sterling advised Bank of America Merrill Lynch, Morgan Stanley and China Merchant Securities as joint sponsors, joint global coordinators and joint bookrunners on the US$510 million global offering and initial public offering of WuXi Biologics (Cayman) Inc. (WuXi Biologics) on the Main Board of The Stock Exchange of Hong Kong Limited.

The completion of WuXi Biologics’ Hong Kong listing marked the second Chinese company to relist in Hong Kong after going private in the US. WuXi PharmaTech (Cayman) Inc., the parent company of WuXi Biologics, was delisted from the US in December 2015 through a US$3.3 billion management buyout.

WuXi Biologics is a global leading biologics services provider offering discovery, development and manufacturing of biologics services to pharmaceutical and biotechnology companies. It is the only open-access biologics technology platform in the world offering end-to-end solutions to empower any interested parties to discover, develop and manufacture biologics from conception of an idea to finally achieving commercial manufacturing.

The Shearman & Sterling team included partners Colin Law (Picture), Paloma Wang, Matthew Bersani (all Hong Kong-Capital Markets) and Laurence Crouch (Menlo Park-Tax); counsel Maggie Guan (Hong Kong-Capital Markets); associates Arman Lie, Wanda Woo (both Hong Kong-Capital Markets) and Yuanjing Chen (Shanghai-Capital Markets); and trainee solicitor Brian Kwok (Hong Kong-Capital Markets).

Involved fees earner: Colin Law – Shearman & Sterling; Paloma Wang – Shearman & Sterling; Matthew Bersani – Shearman & Sterling; Maggie Guan – Shearman & Sterling; Arman Lie – Shearman & Sterling; Wanda Woo – Shearman & Sterling; Yuanjing Chen – Shearman & Sterling; Laurence Crouch – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Bank of America Merrill Lynch; Morgan Stanley; China Merchants Securities ;


Author: Michael Patrini