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Campbells acted as Cayman Islands and British Virgin Islandslegal counsel for Peijia Medical Limited ("PeijiaMedical") on the second largest IPO on the Hong KongStock Exchange this year, raising HK$2.34 billion (US$301 million)(and up to $2.69 billion (US$346 million) upon exercise of theover-allotment option). This IPO had locked up approximately HK$280billion of funds from retail investors, which was over-subscribedapproximately 1200 times. This sets the highest recorded amountunder Hong Kong's listing regime for biotechnology firms underChapter 18A of the Listing Rules and among the companies listed onthe Hong Kong Stock Exchange this year.

O'Melveny & Myers and Hengtai Law Offices acted as HongKong and PRC legal counsel, respectively, to Peijia Medical.Herbert Smith Freehills and Huatai Financial Holdings (Hong Kong)Limited acted as Hong Kong and PRC legal counsel, respectively, toMorgan Stanley Asia Limited and Huatai Financial Holdings (HongKong) Limited (being the joint sponsors) and the underwriters(including Morgan Stanley Asia Limited, Morgan Stanley & Co.International plc, Huatai Financial Holdings (Hong Kong) Limited,BOCI Asia Limited, UBS AG Hong Kong Branch, CMB InternationalCapital Limited and Guotai Junan Securities (Hong Kong)Limited).

Peijia Medical is a leading domestic player in both thetranscatheter valve therapeutic medical device market and theneurointerventional procedural medical device market in China,focusing on the high-growth interventional procedural medicaldevice market in China. It has a comprehensive portfolio ofinterventional procedural medical device products and productcandidates focusing in these two fields. It has developed sixregistered products and has an additional 20 product candidates invarious stages of development.

Originally published 15 May 2020.

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Campbells Advised Peijia Medical Limited On The Second Largest IPO On The Hong Kong Stock Exchange This Year, Raising HK$2.34 Billion (US$301 Million)...