2019.11.28
Pharmaron (Beijing) New Drug Technology Co., Ltd. (‘Pharmaron’, with Stock Code 03759.HK) listed on the main board of the SEHX on November 28, 2019. It issued 116,536,100 shares globally at an issue price of HKD 39.50, and HKD 4,603,000,000 was raised. The net issuance value was expected to be HKD 4,344,000,000. In Hong Kong, the number of shares subscribed was 114.23 times more than the number of shares issued and market investors showed great interest in the subscription. The issuance and the listing on the H-share market represented Pharmaron’s successful landing on both the A-share market and the H-share market in 2019. Pharmaron therefore became the second CRO company to have the “A+H” ownership structure. The project was consummated in a short timeframe of six months.
Pharmaron was founded in 2004 and currently is the second largest pharmaceutical R&D platform in China. It is one of the top three drug discovery service providers in the world and its customers include some of the top 20 multinational pharmaceutical companies in the world (such as AstraZeneca, Merck Sharp & Dohme, Johnson & Johnson and Bayer).
In the past, Pharmaron adopted a red-chip structure. Accordingly, it not only owned businesses and assets in China, but it also had businesses and assets in Hong Kong, the United States and the United Kingdom. Pharmaron has established more than ten R&D service centers around the world. W88优德手机版’s team fully cooperated with other intermediaries to assist their client in dealing with complicated and volatile markets. W88优德手机版’s timely assistance provided Pharmaron with support throughout each stage and our efficient and excellent work won the recognition of the client.
W88优德手机版 was the Chinese legal counsel of Goldman Sachs (Asia) L.L.C., CITIC CLSA Capital Markets Limited and Orient Capital (Hong Kong) Limited (each, a co-sponsor of the project) in the project.
PartnerWANG, Yi led the project and Partner SUN, Xiaojia was the acting lawyer for the project.
