Davis Polk advised the joint book-running managers and representatives of the underwriters on the $172.5 million initial public offering by Zai Lab Limited of 9,583,333 American Depositary Shares, which includes the 1,250,000 shares sold pursuant to a full exercise of the underwriter’s over-allotment exercise. The ADSs are listed on the NASDAQ Global Market under the symbol “ZLAB.”
Zai Lab is an innovative biopharmaceutical company based in Shanghai focusing on discovering or licensing, developing and commercializing proprietary therapeutics that address areas of large unmet medical need in the China market, including in the areas of oncology and autoimmune and infectious diseases.
The Davis Polk corporate team included partners Richard D. Truesdell Jr. and Li He and associates Jennifer Ying Lan, Jaryn S. Fields and Leigh Katz. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. The intellectual property and technology team included associates Bonnie Chen and Samantha Lefland. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York, London and Beijing offices.