Baker McKenzie has acted for CLSA Limited and other underwriters in connection with Joincare Pharmaceutical Group Industry Co., Ltd.'s ("Joincare Pharmaceutical") global depositary receipts (GDR) listing on the SIX Swiss Exchange (SIX).
Joincare Pharmaceutical is an innovation-driven integrated pharmaceutical company that combines pharmaceutical R&D, manufacturing and commercialization. It is a pioneer and leader in the field of complex formulation in China. The company has been listed on the Shanghai Stock Exchange since June 2001.
The Baker McKenzie team, which provided the US and Swiss law advice, was led by Partners Ivy Wong (Hong Kong), Thomas Tarala (Hong Kong) and Dr. Matthias Courvoisier (Zurich). They were assisted by a cross-office team of lawyers, including Special Counsel Bonnie Lau (Hong Kong) and Associates Daisy Chen (Shanghai), Serena Shao (Beijing), Oliver He (Hong Kong), Yves Mauchle (Zurich) and Jan Lusti (Zurich).
Commenting on the deal, Ivy Wong, Asia Pacific chair of the Capital Markets Practice said, "We are pleased to have assisted the underwriters on this important transaction, leveraging from our international network and expertise in cross-border transactions. The China-Switzerland Stock Connect has opened up new listing and fund-raising opportunities for Chinese issuers. With these new opportunities, we expect to see continued interests from Chinese issuers tapping into the Switzerland and other European capital markets for capital to support their future growth and expansion plan."
Dr. Matthias Courvoisier, Head of the Capital Markets Practice in Switzerland, added, "As one of the largest stock exchanges in Europe, SIX has a relatively high valuation of listed companies. Moreover, its less demanding audit requirements, fast and efficient listing process and market-oriented regulations make it a highly desirable international fundraising platform."
Besides acting as underwriters' counsel in Joincare Pharmaceutical's deal, Baker McKenzie had also served different roles in recent GDR listings involving companies in the energy, financial services and industrial manufacturing sectors, including as issuer's counsel in GEM's listing, underwriters' counsel in Gotion High-tech's listing, and depositary bank's counsel in Keda Industrial Group and Ningbo Shanshan's listings on SIX; and as issuer's counsel in China Pacific Insurance (Group)'s listing and depositary bank's counsel in Ming Yang Smart Energy Group's listing on London Stock Exchange.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fund-raising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fund raising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
Joincare Pharmaceutical is an innovation-driven integrated pharmaceutical company that combines pharmaceutical R&D, manufacturing and commercialization. It is a pioneer and leader in the field of complex formulation in China. The company has been listed on the Shanghai Stock Exchange since June 2001.
The Baker McKenzie team, which provided the US and Swiss law advice, was led by Partners Ivy Wong (Hong Kong), Thomas Tarala (Hong Kong) and Dr. Matthias Courvoisier (Zurich). They were assisted by a cross-office team of lawyers, including Special Counsel Bonnie Lau (Hong Kong) and Associates Daisy Chen (Shanghai), Serena Shao (Beijing), Oliver He (Hong Kong), Yves Mauchle (Zurich) and Jan Lusti (Zurich).
Commenting on the deal, Ivy Wong, Asia Pacific chair of the Capital Markets Practice said, "We are pleased to have assisted the underwriters on this important transaction, leveraging from our international network and expertise in cross-border transactions. The China-Switzerland Stock Connect has opened up new listing and fund-raising opportunities for Chinese issuers. With these new opportunities, we expect to see continued interests from Chinese issuers tapping into the Switzerland and other European capital markets for capital to support their future growth and expansion plan."
Dr. Matthias Courvoisier, Head of the Capital Markets Practice in Switzerland, added, "As one of the largest stock exchanges in Europe, SIX has a relatively high valuation of listed companies. Moreover, its less demanding audit requirements, fast and efficient listing process and market-oriented regulations make it a highly desirable international fundraising platform."
Besides acting as underwriters' counsel in Joincare Pharmaceutical's deal, Baker McKenzie had also served different roles in recent GDR listings involving companies in the energy, financial services and industrial manufacturing sectors, including as issuer's counsel in GEM's listing, underwriters' counsel in Gotion High-tech's listing, and depositary bank's counsel in Keda Industrial Group and Ningbo Shanshan's listings on SIX; and as issuer's counsel in China Pacific Insurance (Group)'s listing and depositary bank's counsel in Ming Yang Smart Energy Group's listing on London Stock Exchange.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fund-raising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fund raising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
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