Transaction Overview
Shenzhen Hepalink Pharmaceutical Group Co., Ltd.(9989.HK) is successfully listed on the Hong Kong Stock Exchange on July 8, 2020. CMBI acted as Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager for this IPO.
Hepalink is a leading China-based pharmaceutical company with global pharmaceutical, innovative biotech and CDMO businesses. Hepalink ranked the first by both export value and export volume of injectable finished doses in 2018 among China-based pharmaceutical companies, with major sales into the EU market. A Shares of Hepalink’s Company have been listed on the Shenzhen Stock Exchange (stock code: 002399) since May 2010.
Hepalink’s mission is to become a leading global pharmaceutical company targeting high-mortality diseases through innovation, with coverage in pharmaceutical, biotech and CDMO sectors.
Hepalink issued 220,094,500 shares (assuming the Over-allotment Option is not exercised) with offering price fixed at HK$18.40, and the offering size was approximately HK$4,050 million (assuming the Over-allotment Option is not exercised). A strong lineup of cornerstone investors for this offering which includes several key opinion leaders. 5 cornerstone investors committed to subscribe for a total of US$110m, representing 21.03% of the base deal size. The offering has received wide recognition from the market with the international tranche multiple times oversubscribed . And HKPO tranche of Hepalink was 69.2 times oversubscribed. As of the listing date, Hepalink IPO is largest primary market transcation in HK market healthcare sector in 2020.
As the JGC of this transaction, CMBI fully leveraged distribution network and introduced plenty of high-quality orders from Long Only funds, Healthcare Specialist funds and top tier Chinese insurance funds, perfectly demonstrating CMBI's broad investor coverage and strong underwriting capability.
The listing of Hepalink is the CMBI’s 14th IPO since 2019 in healthcare sector, and this transaction has once again demonstrated the leading position of CMBI in this sector.
Source: Prospectus and Company Announcement
About Hepalink
Hepalink is a leading China-based pharmaceutical company with global pharmaceutical, innovative biotech and CDMO businesses. Hepalink ranked the first by both export value and export volume of injectable finished doses in 2018 among China-based pharmaceutical companies, with major sales into the EU market. A Shares of Hepalink’s Company have been listed on the Shenzhen Stock Exchange (stock code: 002399) since May 2010.
Hepalink’s mission is to become a leading global pharmaceutical company targeting high-mortality diseases through innovation, with coverage in pharmaceutical, biotech and CDMO sectors.
Founded by a group of seasoned polysaccharide-chemists with scientific insights and profound understanding of immunology, Hepalink has built up a portfolio of both leading drugs in the anticoagulant and antithrombotic therapeutic areas and innovative drug candidates focusing on diseases with an immune system disorder axis, including oncology, autoimmune, metabolic and other areas. These diseases are among the largest unmet medical needs globally and represent the leading causes of morbidity and mortality.
Hepalink is the largest China-based and third largest global manufacturer and marketer of enoxaparin sodium injection, with a global market share of 6.5%, based on 2019 worldwide sales according to Frost & Sullivan. In China Hepalink is the second largest supplier in the enoxaparin injection market with a market share of 10.9% in 2019, according to Frost & Sullivan. Hepalink is the largest provider of heparin API with a global market share of 40.7%, larger than the second and third market players combined, based on 2018 global revenue according to Frost & Sullivan.
As of the Latest Practicable Date, Hepalink has exclusive development and commercial rights in Greater China for five drug candidates targeting both oncology and non-oncology indications, among which two are in phase III global clinical trials, namely AR-301 and RVX-208, and two are in phase II global trials, namely Oregovomab and AR-101. Hepalink is also developing a self-discovered proprietary oncology drug candidate currently at preclinical stage.
Hepalink’s CDMO business ranks among the top three China-owned biologics CDMO operators based on 2018 revenue according to Frost & Sullivan.
Source: Prospectus
Disclaimer
This material is for reference only. Investor should rely only on the information contained in the Prospectus of this Global Offering to make investment decision.
