Taibang Biologic Group $300 million equity raising
Davis Polk is advising Taibang Biologic Group (previously listed as China Biologic Products Holdings on the Nasdaq Global Select Market under the trading symbol “CBPO”) in connection with its entry into definitive transaction documents for an equity raising of $300 million with a group of investors led by Platinum Orchid, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and Singapore’s GIC. China Life Private Equity Investment and Cinda Kunpeng (Shenzhen) Investment Management Co., Ltd. are participating in this financing round as co-investors. This is Taibang Biologic Group’s first equity financing transaction since the completion of its privatization in April 2021.
Davis Polk also advised Taibang Biologic Group on its acquisition of Tianxinfu in 2018 and its going-private transaction in 2021.
Founded in 2002, Taibang Biologic Group is a leading Chinese biopharmaceutical company that provides a comprehensive range of plasma products, principally engaged in the research, development, manufacturing and sales of human plasma-based biopharmaceutical products, or plasma products, in China. It also operates a non-plasma products business segment with a number of products such as placental polypeptides, artificial dura mater, artificial nerve sheath and aponeurosis, as well as a full line of products in the field of neurosurgery under the German brand named Zeppelin.
The Davis Polk team includes partners Howard Zhang and Yang Chu and counsel – registered foreign lawyer Jie Zhang. Associate Jennifer Ng is providing advice relating to the Hong Kong law. The tax team includes counsel Alon Gurfinkel and associate Kelli A. Rivers. Members of the Davis Polk team are based in the Beijing, Hong Kong and London offices.