DeHeng Assisted Beijing Biostar Biopharmaceuticals Co., Ltd. in H-Share Issuance and Listing on the Hong Kong Stock Exchange Main Board

2024-10-31

▲DeHeng lawyers at the Beijing Biostar’s IPO ceremony upon invitation

On October 31, 2024, Beijing Biostar Biopharmaceuticals Co., Ltd. (stock code: 02563.HK) completed its initial public offering (IPO) of H-shares and was listed on the Main Board of the Hong Kong Stock Exchange. This milestone marked the debut of the first synthetic biology pharmaceutical company in the Hong Kong market. For this offering, Beijing Biostar issued 14.59 million shares at HK16 per share, raising approximately HKD 233 million in total. The proceeds will primarily fund ongoing and planned clinical trials for its core products, as well as clinical trials, preclinical studies, and investigator-initiated trials for other products. Additionally, the funds will support the development of domestic commercialization capabilities and the expansion of its global marketing network. Based on the issue price, Beijing Biostar’s market capitalization stands at HKD 5.833 billion.

DeHeng’s Beijing and Silicon Valley offices collaborated on this project. The Beijing Office, acting as the issuer’s PRC legal counsel, played a pivotal role throughout the process, including conducting due diligence, drafting legal opinions, preparing listing applications, responding to regulatory inquiries, and reviewing the prospectus. The team provided expert legal advice and solutions on matters related to Chinese law. Meanwhile, the Silicon Valley Office handled overseas legal services, including due diligence on the issuer’s foreign shareholders. 

The DeHeng team advising on Beijing Biostar’s IPO was led by partners Xu Jianjun, Sun Yanli, and Dong Liyang, along with consultant Dong Chen. Other key contributors included Zhong Shenya, Zhang Xiaotong, and Wang Anqi.