Abbisko HK$1.7 billion IPO
Davis Polk advised Abbisko Cayman Limited in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$1.7 billion (US$225 million) prior to the exercise of the over-allotment option.
Abbisko is a clinical-stage biopharmaceutical company dedicated to the discovery and development of innovative and differentiated small molecule oncology therapies. Since its inception in 2016, Abbisko has been strategically focused on small molecule precision oncology therapies, small molecule immuno-oncology therapies and their combination therapies.
The Davis Polk corporate team included partners Yang Chu and Xuelin (Steve) Wang, counsel Lillian Lian and registered foreign lawyer Jennifer (Yujia) Jiang and associate Pearl Ho. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Partner Gregory S. Rowland and counsel Sarah E. Kim provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.