Herbert Smith Freehills Kramer Advises Joint Sponsors On Mabwell’s Hong Kong IPO

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Leading global law firm Herbert Smith Freehills Kramer has advised CITIC Securities (Hong Kong) Limited and Haitong International Capital Limited as joint sponsors...

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Leading global law firm Herbert Smith Freehills Kramer has advised CITIC Securities (Hong Kong) Limited and Haitong International Capital Limited as joint sponsors on Mabwell (Shanghai) Bioscience Co., Ltd. (02493.HK)'s listing on the Main Board of the Hong Kong Stock Exchange.

"Hong Kong remains a major listing venue for Chinese companies," said Hong Kong partner Matt Emsley. "Investor appetite continues to focus on issuers with clear execution capability and growth visibility."

Mabwell is a China‑based pharmaceutical company developing drugs for oncology and age‑related diseases with significant unmet clinical needs. The company is recognised for its ability to innovate in drug development and for its end‑to‑end capabilities spanning drug discovery, clinical development and commercialisation. Mabwell has built a diversified pipeline of drug candidates across multiple therapeutic modalities and indications. Mabwell's Hong Kong listing follows the company's 2022 debut on the Shanghai Stock Exchange STAR Market (688062.SS).

"We are pleased to have supported the joint sponsors on Mabwell's Hong Kong listing," said Beijing partner Stanley Xie. "As the market's first A‑share listed company to pursue a Chapter 18A listing, the transaction reflects our strength in both cross‑border China listings and biotech IPOs."

Herbert Smith Freehills Kramer has a strong track record advising on cross‑border China capital markets transactions, including Hong Kong listings of A‑share listed companies such as S.F. Holding Co., Ltd. (06936.HK, 002352.SZ), Jiangsu Hengrui Pharmaceuticals Co., Ltd. (01276.HK, 600276.SS), Shanghai Longcheer Technology Co., Ltd. (09611.HK, 603341.SS) and Eastroc Beverage (Group) Co., Ltd. (09980.HK, 605499.SS).

Partners Matt Emsley, Stanley Xie and Jin Kong* led a cross-office team advising the joint sponsors, supported by Maisie Ko, Sean Ji, Reagan Li, Ting Wang, Mia Zheng, Jessica Li, Emily Wan, Francis Wang, Eliane Ye, Justin Qiu, Angel Lau, Sammi Kwan and Ashley Sit.

Legal manager Marine Jin led Herbert Smith Freehills Kewei Joint Operation's Digital Legal Delivery business to provide high-efficiency solutions for verification and other document-intensive processes during the listing, assisted by Grace Ji, Jincheng Hu, Yiling Zou and Siyu Chen.

*Due to regulatory requirements in Hong Kong, Jin Kong's official title is Senior Registered Foreign Lawyer.

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