Bao Pharma Raises HK$1 Billion in Hong Kong IPO; Cooley Advises the Company

"Cooley advised Shanghai Bao Pharmaceuticals on its HK$1 billion initial public offering in Hong Kong. Bao Pharma offered 37,911,700 H shares at HK$26.38 each; shares began trading on the HKEX on December 10, 2025 (stock code 2659). CITIC Securities, Guotai Haitong, West Bull and BOCOM acted as sponsors and coordinators."

Cooley represented Shanghai Bao Pharmaceuticals (Bao Pharma) in its initial public offering, while CITIC Securities and Guotai Haitong Securities acted as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers. West Bull Securities and BOCOM International served as joint global coordinators, joint bookrunners and joint lead managers. Bao Pharma completed an HK$1 billion IPO in Hong Kong, offering 37,911,700 H shares globally priced at HK$26.38 per share. The company’s shares began trading on the Hong Kong Stock Exchange on December 10, 2025 under stock code 2659. Cooley represented Shanghai Bao Pharmaceuticals with a team composed by: Michael Yu, Yiming Liu, Kaiting Yang, Yiying Wang, Yunxiang Xu, Francis Wheeler, Brian Lau, Bridget Wang, Zoe Wang, Daniel Zheng and Blake Cao. The team advising the company was led by Michael Yu, Yiming Liu, Kaiting Yang, Yiying Wang and Yunxiang Xu.

Bao Pharma Raises HK$1 Billion in Hong Kong IPO; Cooley Advises the Company

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads