Ashurst advises UBS on HK$400 million placing of new H shares by Shandong Boan Biotechnology

Global law firm Ashurst has advised UBS AG Hong Kong Branch as sole placing agent, sole overall coordinator and sole global coordinator in connection with the placing of 38,400,000 new H shares (the "Placing Shares") of Shandong Boan Biotechnology Co., Ltd. (SEHK: 6955) ("Boan Biotechnology") on the Main Board of the Hong Kong Stock Exchange, raising gross proceeds of approximately HK$400.13 million.

The placing shares were placed at HK$10.30 per share on a best effort basis. The transaction marks the second primary placing of Boan Biotechnology in which Ashurst has represented UBS AG Hong Kong Branch, following Boan Biotechnology's initial public offering and listing on the Main Board of the Hong Kong Stock Exchange, where Ashurst acted as joint sponsors' and underwriters' US and Hong Kong legal advisors.

Boan Biotechnology is a leading biopharmaceutical company specialising in the development, manufacturing and commercialisation of innovative biologic drugs. The successful completion of this placing further strengthens Boan Biotechnology’s capital base and supports its ongoing growth and development initiatives.

The Ashurst team was led by partner Li Jiang, with assistance from associate Nicole Xu. Tokyo office managing partner Alexander Dmitrenko and senior associate Vicki Tang also provided support.

Commenting on the transaction, Li said:

"We are delighted to have once again supported UBS on this transaction for Boan Biotechnology. The successful placing demonstrates the continued confidence of the market in Boan Biotechnology’s business and growth prospects. This transaction further highlights Ashurst’s strong track record in advising on equity capital markets transactions in Hong Kong and across Asia."