Herbert Smith Freehills advises sponsors on Antengene’s HK$2.6 billion Hong Kong IPO / 史密夫斐尔律师事务所作为联席保荐人境外律师为德琪医药26亿港元IPO提供法律服务

Leading global law firm Herbert Smith Freehills has advised Goldman Sachs and JP Morgan as joint sponsors of biopharmaceutical company Antengene Corporation Limited (06996.HK)’s mainboard listing on the Stock Exchange of Hong Kong.

Antengene is a clinical-stage Asia-Pacific biopharmaceutical company focused on innovative oncology medicines. The company offers industry-leading R&D capabilities and a differentiated strategic approach to developing novel oncology therapies.

The IPO was over-subscribed more than 264 times at the Hong Kong public offering, raised over HK$2.6 billion (US$335 million), and listed on 20 November 2020. The offering attracted 10 cornerstone investors that subscribed to shares worth approximately HK$1.39 billion in total (approximately US$179 million).

“This year has been notable for the wave of healthcare listings in Hong Kong,” said Hong Kong partner Matt Emsley. “It is encouraging to see repeated healthcare listings attract investors, since the introduction of the Listing Rules' Chapter 18A biotech/pharma changes in 2018.”

“We are delighted to have advised Goldman Sachs and JP Morgan on this IPO, congratulate Antengene on its IPO, and look forward to its continued success,” said Herbert Smith Freehills Kewei joint operation partner Stanley Xie. "This is one of nearly a dozen Hong Kong IPOs on which Herbert Smith Freehills Kewei Joint Operation Office has assisted since its establishment just over one year ago.”

Herbert Smith Freehills has now advised on a number of healthcare listings since the Hong Kong exchange introduced its new regime for biotech listings in 2018, including listings by Shanghai Junshi Biosciences (01877.HK), TOT BIOPHARM (01875.HK), SinoMab Bioscience Limited (03681.HK), Peijia Medical (09996.HK) and Simcere Pharmaceutical (02096.HK).

Matt and Stanley led the team advising the sponsors, assisted by senior associates Jin Kong and Maisie Ko, associates Jaime Fong, Tracy Lee and Karen Liu, legal manager Jeffrey Lee in Hong Kong, and associate Sean Ji from Herbert Smith Freehills Kewei. Hong Kong trainees Rachel Lam, Joyce Chan and Troy Song, as well as paralegal Jessica Sun from Herbert Smith Freehills Kewei, also provided support.

Senior legal specialist Joanna Hu led Herbert Smith Freehills Kewei Joint Operation’s Alternative Legal Services businesses to provide high-efficiency solutions for document-intensive processes during the offering, assisted by senior legal analysts Selina Wang and Yuanyuan Yin as well as legal analyst Shawna Peng. Senior legal analyst Ellie Mao, lawyer Helen Liang and legal specialist Yilin Li also provided support. The Alternative Legal Services businesses are the only operations of their kind in mainland China.

全球领先的律师事务所史密夫斐尔作为生物制药公司德琪医药(06996.HK)联席保荐人高盛和摩根大通的境外律师，为其在香港联交所主板上市提供法律服务。

德琪医药是一家亚太临床阶段生物制药公司，专注于创新肿瘤学药物，拥有行业领先的研发能力和差异化的战略方法开发新的肿瘤疗法。

德琪医药在首次公开募股中获得超264倍认购，融资超过26亿港元(约合3.35亿美元)，于2020年11月20日开始在香港联交所交易。其中，10位基石投资者认购金额约为13.9亿港元(约合1.79亿美元)。

史密夫斐尔香港办公室合伙人艾迈修(Matt Emsley)表示：“2020年见证了医疗公司在香港上市的热潮。令人鼓舞的是，在港交所于2018年推出主板上市规则第18A章节、放宽生物技术公司上市条件以来，医疗公司纷纷登陆资本市场，吸引了投资者的目光。 “

科伟史密夫斐尔联营办公室合伙人谢守德表示：“我们很高兴为高盛和摩根大通就此次IPO提供法律服务。衷心祝贺德琪医药成功上市，并期待其取得更大发展。科伟史密夫斐尔联营办公室刚刚成立一年多，这仅是联营办公室协助的十多个香港市场IPO的其中之一。“

自港交所于2018年放宽生物技术公司上市条件以来，史密夫斐尔已为多家医疗公司在港上市提供法律服务， 包括君实生物(01877.HK)、东曜药业(01875.HK)、中国抗体(03681.HK)、沛嘉医疗(09996.HK)和先声药业(02096.HK)。

合伙人艾迈修和谢守德率领律师团队为此次上市联席保荐人提供法律服务。主要团队成员包括香港办公室孔瑾(Senior Associate)、高美诗(Senior Associate)、方靖颐(Associate)、利卓思(Associate)、刘晓韵(Associate)、李柏濠(Legal Manager)、林诺宜(Trainee)、陈晓怡(Trainee)、宋肇屹(Trainee)，以及科伟史密夫斐尔上海联营办公室季晓源(Associate)和孙菁(Paralegal)。

胡西瑞(Senior Legal Specialist)率领的科伟史密夫斐尔联营办公室替代性法律服务(ALT)联合团队在发行期间为文件密集型工作提供高效率的解决方案，主要成员包括王思颖(Senior Legal Analyst)、尹圆圆(Senior Legal Analyst)和彭祺程(Legal Analyst)。茅唯一(Senior Legal Analyst)、梁琳(Lawyer)和李依琳(Legal Specialist)提供支持。联营办公室提供的替代性法律服务是中国内地目前唯一此类业务。