Davis Polk advised Zai Lab Limited in connection with its secondary listing and initial public offering on the Hong Kong Stock Exchange. Zai Lab is the first company listed under both Chapter 19C and Chapter 18A of the Hong Kong Listing Rules. The gross proceeds from the offering amounted to approximately HK$5.94 billion (US$766 million) prior to exercise of the over-allotment option.
Zai Lab (NASDAQ:ZLAB) is an innovative commercial stage biopharmaceutical company focused on bringing transformative medicines for cancer, infectious and autoimmune diseases to patients in China and around the world.
The Davis Polk corporate team included partners Yang Chu and Howard Zhang, counsel Xuelin (Steve) Wang, registered foreign lawyer Xin (Sheen) Xu and Jessica Hui and associates Kai Sun, Tracy Wu and Edwin Lee. Associate Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.