ZAI LAB FOLLOW-ON OFFERING
Davis Polk & Wardwell advised Zai Lab, a Shanghai-based innovative biopharmaceutical company, on its first follow-on offering of US$150 million of American depositary shares (ADS). The ADS are listed on the NASDAQ Global Market.
Zai Lab focuses on bringing transformative medicines for cancer, infectious and autoimmune diseases to patients in China and around the world.
DIAGEO ACQUIRES SHUIJINGFANG
Grand Metropolitan International Holdings, a wholly owned subsidiary of Diageo, partially acquired Sichuan Swellfun (Shuijingfang), an A-share-listed company for approximately RMB6.084 billion. On completion of the acquisition through a tender offer, Diageo will directly or indirectly hold an aggregate 60% equity interest in Shuijingfang.