Sidley represented Suzhou Basecare Medical Corporation Limited (HKEX:2170) (Basecare) as Hong Kong and U.S. counsel in its initial public offering (IPO) and H share listing on the Main Board of the Stock Exchange of Hong Kong, which raised net proceeds of HK$1.72 billion (US$220 million). CLSA Capital Markets Limited acted as the sole sponsor in this transaction.
Basecare is an innovative platform providing advanced genetic testing solutions for assisted reproduction in China, based on next generation sequencing (NGS) technologies. In this IPO, Basecare received strategic cornerstone investments from OrbiMed, Lake Bleu Prime, CRF Investment Holdings, Affin Hwang Asset Management, WinTwin Capital, Foresight Funds, and IvyRock Asset Management.
The Sidley team was led by partner Oliver Zhong, with the support of senior associate Madison Meng and China advisor Eason Qu.
Sidley provides multidisciplinary services for life sciences clients. We advise clients across the full spectrum of their business lifecycles, ranging from formation, corporate governance, and compliance operations for start-ups, to collaboration, licensing, commercialization, and filing in the business development phase, including initial public offerings, refinancings, and bond/note issuances, as well as domestic and cross-border mergers and acquisitions, asset restructuring, equity incentive plans, and privatizations.
Sidley continues to be the top IPO law firm in Hong Kong. According to the most recent data compiled by Ryanben Capital, Sidley remains the No.1 legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (January 2019 to December 2020).