Slaughter and May, Hong Kong, advised the sole sponsor, the joint global coordinators, the joint bookrunners and the underwriters on the Hong Kong and U.S. law aspects of the global offering and listing of Kintor Pharmaceutical Limited (Kintor Pharmaceutical or the Company) on the Main Board of the Hong Kong Stock Exchange, raising approximately HK$1.75 billion (approximately US$224 million) before exercise of the over-allotment option. Huatai Financial Holdings (Hong Kong) Limited (Huatai) acted as the sole sponsor, and Huatai, UBS AG Hong Kong Branch (UBS) and China International Capital Corporation Hong Kong Securities Limited (CICC) acted as the joint global coordinators. Huatai, UBS, CICC, CMB International Capital Limited, China Renaissance Securities (Hong Kong) Limited, Haitong International Securities Company Limited, CCB International Capital Limited and China Everbright Securities (HK) Limited acted as the joint bookrunners. The listing application was granted pursuant to Chapter 18A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Kintor Pharmaceutical is a Chinese clinical-stage novel drug developer focused on the research and development of potential first-in-class and best-in-class drugs for prostate cancer, breast cancer and other androgen receptor-related diseases. The Company’s lead drug candidate, Proxalutamide, is undergoing phase III clinical trials in China and phase II clinical trials in the United States for metastatic castration-resistant prostate cancer, as well as clinical trials for breast cancer. Kintor Pharmaceutical’s co-founders, Dr. Youzhi Tong and Dr. Chuangxing Guo, have been recognised as “State Specially Recruited Experts” in China under the “One Thousand Foreign Experts Program” for entrepreneurs and innovative talents.
The Hong Kong retail tranche of the global offering was very significantly over-subscribed by approximately 550 times, and the international tranche of the global offering was significantly over-subscribed. Dealings in the shares of Kintor commenced on the Hong Kong Stock Exchange on 22 May 2020.