Hutchison China Meditech Limited $282 Million Secondary Offering

Davis Polk advised the underwriter in connection with a secondary offering of 12,000,000 American Depositary Shares of Hutchison China Meditech Limited (“Chi-Med”), each representing five ordinary shares of Chi-Med. The selling shareholder was Hutchison Healthcare Holdings Limited. The total proceeds of the secondary offering were approximately $282 million. The ADSs are listed on the Nasdaq Global Select Market under the symbol “HCM.”

Chi-Med is a biopharmaceutical company which researches, develops, manufactures and markets pharmaceutical products. Its Innovation Platform, Hutchison MediPharma, has about 440 scientists and staff focusing on discovering, developing and commercializing targeted therapeutics and immunotherapies in oncology and autoimmune diseases. It has a portfolio of eight cancer drug candidates currently in clinical studies around the world. Chi-Med’s Commercial Platform manufactures, markets and distributes prescription drugs and consumer health products, covering an extensive network of hospitals across China. Dual-listed on the AIM market of the London Stock Exchange and the Nasdaq Global Select Market, Chi-Med is headquartered in Hong Kong and partially owned by CK Hutchison Holdings Limited.

The Davis Polk team included partner James C. Lin and registered foreign lawyers Jennifer Liu, I. Danni Lin, Xiushan Sun and Mendtuvshin (Mendee) Enkhtaivan. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.