Type of information: IPO
Company: Beigene (China)
Amount: $903 million
Funding type: IPO
- BeiGene intends to use net proceeds from the Offering for clinical trials, preparation for registration filings, and for the launch and commercialization of its core product candidates (zanubrutinib, tislelizumab, and pamiparib), as well as to fund continued expansion of its product portfolio in cancer and potentially other therapeutic areas, and for working capital, expanding internal capabilities, and general corporate purposes.
- • On August 8, 2018, BeiGene announced the closing of its previously announced Hong Kong initial public offering and global offering of 65,600,000 ordinary shares, par value $0.0001 per share, at a public offering price of HK$108.00 per Share. Based on an assumed exchange rate of HK$7.8478 to US$1.00, the public offering price equates to US$13.76 per Share, or US$178.90 per American Depositary Share. BeiGene’s ADSs are currently listed on the Nasdaq Global Select Market under the symbol “BGNE” and each ADS represents 13 ordinary shares. The Shares began trading today on the Main Board of the Stock Exchange of Hong Kong Limited under the stock code "06160".
- The gross proceeds to BeiGene from the Offering, before deducting underwriting discounts and commissions and other offering expenses, are approximately HK$7.08 billion, or approximately US$903 million. In addition, BeiGene has granted the joint global coordinators a 30-day option to purchase up to an additional 9,840,000 Shares at the public offering price, less underwriting discounts and commissions.
- • On August 2, 2018, BeiGene announced the pricing of its previously announced Hong Kong initial public offering and global offering of 65,600,000 ordinary shares, par value $0.0001 per share, at a public offering price of HK$108.00 per Share. The Shares are expected to begin trading on the Main Board of The Stock Exchange of Hong Kong Limited on August 8, 2018 under the stock code “06160.” The Offering is expected to close on the same day, subject to customary closing conditions.
- • On July 27, 2018, BeiGene announced a Hong Kong initial public offering and a global offering of 65,600,000 of its ordinary shares, par value $0.0001 per share (the “Shares”), and the proposed listing of the Shares on the Main Board of The Stock Exchange of Hong Kong Limited. BeiGene’s American Depositary Shares (“ADS”) are currently listed on the Nasdaq Global Select Market under the symbol “BGNE.” Each ADS represents the right to receive 13 ordinary shares.
- The Offering initially comprises 5,904,000 Shares for subscription by the public in Hong Kong and 59,696,000 Shares for subscription globally, representing 9% and 91% of the total number of Shares, respectively, subject to reallocation. In addition, BeiGene expects to grant the joint global coordinators a 30-day option to purchase up to an additional 9,840,000 Shares. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
- Morgan Stanley & Co. International plc, Goldman Sachs (Asia) L.L.C., Credit Suisse (Hong Kong) Limited and CLSA Limited are acting as joint global coordinators for the Offering.
- Sales of Shares outside of Hong Kong, initially offered in the United States and sold outside the United States that may be resold from time to time in the United States, are being offered pursuant to an automatically effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission.
Therapeutic area: Cancer - Oncology