Sidley advised on the initial public offering (IPO) of Mega Genomics Limited (HKEX: 6667) on the Main Board of the Stock Exchange of Hong Kong (HKEX). The offering has raised gross proceeds of approximately HK$215.312 million (US$27.6 million). Sidley acted as Hong Kong and U.S. legal adviser to the sole sponsor, China Securities (International) Corporate Finance Company Limited, and the underwriters in the transaction.
Mega Genomics is a leading genetic testing platform company in China with a focus on consumer genetic testing and cancer screening services. It is the largest genetic testing platform for consumer and cancer screening in China based on number of tests administered in 2020, according to Forest & Sullivan. The offering has received strategic investments from cornerstone investors.
The Sidley team was led by partners Claudia Yu and Meng Ding. Key team members included registered foreign lawyer Dennis Chan, associate Cindy Liu, and senior legal assistants Jiangyuan Song and Sia Yang. Associate Gary Wu, senior legal assistant Alice Liu, and scientific adviser Xiaotong Yang also provided assistance.
Sidley has one of the largest Hong Kong IPO teams in the region, with more than 100 lawyers and legal professionals. It remains the No. 1 legal adviser in the Hong Kong IPO league table by deal count in the past 24 months (until May 2022), according to Ryanben Capital. Sidley is the only Band One firm ranked by Chambers Asia Pacific/Greater China Region for 13 consecutive years. We are highly recognized for our strength in advising on life sciences and biotech-related IPOs and have completed a number of high-profile transactions in recent years, including Shanghai MicroPort MedBot, Zhaoke Ophthalmology, MicroPort CardioFlow Medtech Corporation, Ocumension Therapeutics, Kangji Medical, Alphamab Oncology, Shanghai Henlius Biotech Inc., Viva Biotech Holdings, CanSino Biologics Inc., and Ascletis Pharma Inc.
Sidley’s China Life Sciences practice is an integrated part of the firm’s Global Life Sciences practice, which has more than 200 dedicated lawyers globally. We advise clients across the full spectrum of the business lifecycle, ranging from formation, corporate governance, and compliance operations for startups to collaboration, licensing, commercialization, and filing in the business development phase, including initial public offering, refinancing, and bonds/notes issuance, as well as domestic and cross-border mergers and acquisitions, asset restructuring, dispute resolution and international arbitration, equity incentive plans, and privatizations.