King & Wood Mallesons (KWM) advised Sino Biopharmaceutical (Sino Biopharm) on its first-time issuance of €750 million (US$812.6 million) zero-coupon convertible bonds to fund its research and development, and the construction of more manufacturing facilities.
The convertible bonds, due 2025, were listed on Hong Kong Stock Exchange (HKEX). The bonds’ initial conversion price was HK$19.90 per share, a nearly 58% premium over the stock’s last closing price of HK$12.12.
The Hong Kong-based company is a research and development-driven pharmaceutical conglomerate in China, and was selected as a constituent stock of the Hang Seng Index in 2018, and a constituent stock of the Hang Seng China Enterprises Index in 2019.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.