Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Shanghai Pharmaceuticals Holding Co. Ltd. (‘Shanghai Pharma’) on its placement of approximately 153m new H-shares on the Hong Kong Stock Exchange. The transaction closed today (26 January 2018) and raised US$402m.

The placing shares represent around 5.7 per cent of the total existing issued share capital. Shanghai Pharma plans to use the proceeds of the placement to fund the development of its pharmaceutical manufacturing and distribution businesses and replenish its working capital.

The Freshfields team advising on the deal was led by Global Transactions partner Richard Wang.