Asymchem Laboratories – HK$7.15 Billion IPO

Hong Kong – December 15, 2021 – Cooley advised Asymchem Laboratories, a contract development manufacturing organization (CDMO) serving the global pharmaceutical industry, on its HK$7.15 billion (US$916 million) initial public offering – marking the largest healthcare IPO in Hong Kong this year – of 18,415,400 H shares, which now trade on the Hong Kong Stock Exchange. Partners Yiming Liu and Michael Yu led the Cooley team advising Asymchem.

“The H-share listing is important milestone in the evolution of Asymchem and speaks to our ongoing investment in innovative technologies,” Dr. Hao Hong, chairman and CEO of Asymchem, said in a news release. “We would like to thank everyone for their long-term support and trust. We have worked tirelessly to become a technology-driven global leader among CDMOs and a partner of choice for the global pharmaceutical industry.”

Goldman Sachs and CLSA served as the joint sponsors and the joint global coordinators on the offering. Goldman Sachs, CLSA, Credit Suisse, Citigroup, Guotai Junan Securities and BOCOM International Securities acted as the international and Hong Kong underwriters for the offering.

Asymchem is a leading, technology-driven CDMO providing comprehensive solutions throughout the drug development and manufacturing process. According to Frost & Sullivan, Asymchem – as measured by revenue in 2020 – is the world’s fifth-largest drug substance CDMO and the largest China-based commercial stage chemical drug CDMO. Asymchem has been listed on the Shenzhen Stock Exchange in China since 2016.

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