15 December 2020
Skadden advised HBM Holdings Limited, a Chinese clinical-stage biopharmaceutical firm specializing in the discovery and development of antibody therapies for immunology and oncology, on its listing and initial public offering on the Main Board of the Hong Kong Stock Exchange. The company issued 138,221,000 shares at the offer price of HK$ 12.38 per share, for a total offer value of HK$ 1.7 billion (approximately US$ 221 million), assuming the underwriters do not exercise the over-allotment option. Trading commenced on 10 December.
The Skadden team was led by Hong Kong partners Julie Gao, Christopher Betts and Paloma Wang, with associates Ming Kong (Hong Kong), Steven Lee (Hong Kong), and Nicole Yuen (Hong Kong), international legal consultants Xinru (Robin) Sun (Shanghai) and Youtong Ling (Hong Kong), and trainee solicitors Nicholas Poon (Hong Kong) and Shu Fei (Marie) Lim (Hong Kong). Partner Resa Schlossberg (New York) and associate William Casey (Palo Alto) provided intellectual property advice. Partner Sean Shimamoto (Palo Alto) and associate Katy Cummings (Palo Alto) provided tax advice.
