Hong Kong

09 June 2020

Jones Day Advises GenScript Biotech Corporation (Hong Kong) on $423.8 million Initial Public Offering

Jones Day acted as the US and Hong Kong legal advisors of GenScript  Biotech Corporation (Hong Kong: 1548) (“GenScript Biotech”) in relation to its (a) approximately US$423.8 million initial public offering of 18,425,000 American depositary shares and spin-off listing of its subsidiary Legend Biotech Corporation (NASDAQ: LEGN) (“Legend Biotech”) on the Nasdaq Global Select Market and (b) approximately US$24 million purchase of ordinary shares of Legend Biotech in a concurrent private placement of Legend Biotech.

GenScript Biotech is a leading life sciences research and application service and product provider that applies its proprietary technology to various fields from basic life sciences research to transformational biomedical development, industrial synthetic products and cell therapeutic solutions. Its cell therapy business is being run under Legend Biotech that engages in the discovery and development of novel cell therapies for oncology and other indications.

Legend Biotech’s lead product candidate is a chimeric antigen receptor, or CAR, T cell therapy for the treatment of multiple myeloma.

In March 2020, Jones Day also acted for GenScript Biotech in relation to its approximately US$160 million pre-IPO financing of Legend Biotech. The IPO and the concurrent private placement completed today (June 8, 2020). 

The Jones Day team was led by Charles Chau (Hong Kong) and Alan Seem (Silicon Valley), and included Donna Ko (Hong Kong), Chen Ye (Silicon Valley), Wenxing Feng (Hong Kong), and Flora Lo  (Hong Kong).

For more information: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0605/2020060501353.pdf

Copyright © The Impact Lawyers. All rights reserved. This information or any part of it may not be copied or disseminated in any way or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of The Impact Lawyers. The opinions expressed in this article are those of the authors and do not necessarily reflect the positions or policies of The Impact Lawyers.

Would you like to read more?

The Impact Lawyers offers a FREE newsletter that keeps you up to date on news and analysis about the international latest legal news.
Please complete the form below and click on subscribe to receive The Impact Lawyers Newsletter subscription

Subscribe for free

The Impact Lawyers Newsletter

  • Practical templates and guides for lawyers and law firms
  • Podcasts, videos and webinars explaining how to be sucessful
  • Tips made by lawyers and other practitioners