Kirkland Advises Shanghai Bao Pharmaceuticals on Hong Kong H‑Share Listing

Kirkland & Ellis advised the joint sponsors, CITIC Securities (Hong Kong) Limited and Haitong International Capital Limited, and the underwriters on the H share listing of Shanghai Bao Pharmaceuticals Co. Ltd. (Bao Pharma, 2659.HK) on the Main Board of the Hong Kong Stock Exchange. Bao Pharma successfully raised approximately HK$1 billion (approximately US$130 million) from its global offerings and secured several cornerstone investors, including AnkeBio (Hong Kong) Co., Ltd., Derivatives China Alpha Fund SPC (acting for and on behalf of Derivatives China Fundamental Fund SP) and Guotai Junan Investments (Hong Kong) Limited (in connection with the Zhonghe OTC Swaps). Founded in 2019, Bao Pharma is a biotechnology company with an approved product and a diverse clinical pipeline. The company leverages synthetic biology technology to develop and deliver recombinant biologic drugs, targeting conditions with limited treatment options and complex manufacturing challenges. From its inception, Bao Pharma has focused on creating biologic drugs intended to replace biochemically extracted products derived from animal organs, blood or urine, or otherwise upgrade current treatments. Kirkland & Ellis represented the joint sponsors, CITIC Securities (Hong Kong) Limited and Haitong International Capital Limited, and the underwriters with a team composed by: Mengyu Lu, George Zheng, Justin Zhou, Patty Zhu and Qianqian Yu (capital markets lawyers).

Kirkland Advises Shanghai Bao Pharmaceuticals on Hong Kong H‑Share Listing

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