Fangda Partners represented BeiGene as PRC counsel, in its issuance and sale of its 5.9% equity stake to Celgene Corporation, and its strategic collaboration with Celgene to develop antibody cancer therapies. BeiGene will also gain an exclusive license to commercialize Celgene’s approved therapies in China.
Fangda Partners represented BeiGene, Ltd. (NASDAQ:BGNE) as PRC counsel, in its issuance and sale of its 5.9% equity stake to Celgene Corporation (NASDAQ:CELG), and its strategic collaboration with Celgene to develop and commercialize BeiGene’s investigational anti-programmed cell death protein 1 (PD-1) inhibitor, BGB-A317, for patients with solid tumor cancers. BeiGene will also acquire Celgene’s commercial operations in China and gain an exclusive license to commercialize Celgene’s approved therapies in China.
FangFangda Represented Cainiao in launching the First RMB Logistics/Warehousing Core Fund.
On June 20, 2017, Cainiao Smart Logistics Network (“Cainiao”) announced that it had launched a logistics/warehousing fund (the “Fund”) with a fund size of approximately 8.5 billion yuan. China Life Insurance is the main investor of the Fund. Cainiao’s affiliate, acting as the general partner and manager of the Fund, will operate and manage the assets of the Fund. Cainiao expects to inject some of its logistics real estate projects into the Fund. The Fund is Cainiao’s first logistics/warehousing fund and it is also the first RMB-denominated “core fund” in the China market.
Private equity real estate funds generally follow core, core-plus, value added, or opportunistic strategies when making investments. A core fund generally follows a low-risk/low-potential return strategy but with predictable and stable periodic cash flows.
Over the past four years of continuing expansion and growth, Cainiao, together with its business partners, has improved logistics efficiency across the country and enhanced the consumers’ experience as part of China’s continuing e-commerce boom. The Fund’s set up is another milestone achievement of Cainiao as it will help Cainiao to further develop its growing logistics platform while tapping into the resources of additional financial partners to expand the smart logistics business across the country.
Fangda Partners represented Cainiao as the sponsor of the Fund in this transaction and different teams collaborated to provide legal advice in all aspects of this transaction including the preliminary deal structuring, bidding process, fund formation and transaction negotiations.
Fangda Partners represented the issuer, WuXi Biologics, in connection with its initial public offering and listing and on Stock Exchange of Hong Kong.
Fangda Partners represented the issuer, WuXi Biologics (Cayman) Inc. (stock code: 2269) in connection with its initial public offering and listing and on Stock Exchange of Hong Kong of an aggregate of 192,982,500 shares, which raised approximately HK$3,329.3 million proceeds (before exercise any of the over-allotment option). WuXi Biologics (Cayman) Inc.is a global leading biologics services provider that offers comprehensive, integrated and highly customizable services through a team of scientists, proprietary technology platform and know-how, state-of-the-art laboratories, and cGMP-compliant manufacturing facilities to pharmaceutical and biotechnology companies. The firm's team was led by corporate partner Leo LOU, Josh SHIN and Diana LI.
As the legal advisor for the program, Fangda advised ABC-CA (Shanghai) Asset Management Co., Ltd. on the establishment of the first phase of the specialized asset-backed-securities plan with respect to the receivables of China Resources Pharmaceutical Commercial Group Co., Ltd..
This specialized plan intends to issue asset-backed-securities based on the obligatory rights of the receivables occurring during the operation of China Resources Pharmaceutical Commercial Group Co., Ltd. and its subsidiaries upon the sales of medical devices, supplies and reagents. The issued amount is close to RMB 2.1005billion. The program was established on May 18th，2017 and its securities are listed for trade at the Shanghai Stock Exchange. It should be noted that the program is the largest ABS program backed by medical account receivables in China so far, and also the very first ABS program backed by receivables of State-Owned Enterprise and arranged by a commercial bank.
Fangda advised CMS Asset Management Co., Limited, as its legal consultant, on the establishment of the first phase of the Financial Street Commercial-Mortgage-Backed Securities (CMBS) program.
The CMBS program is collateralized by the property charges to be collected on commercial properties owned by Financial Street (Beijing) Real Estate Co., Ltd. (金融街(北京)置业有限公司). The issued amount is RMB 6.65billion. With the program established on May 15th， 2017, its securities are listed for trade at the Shenzhen Stock Exchange. The program is highlighted by its leading role played in the market for it’s the largest real estate ABS program by size in China, the largest real estate ABS program approved in the history of the Shenzhen Stock Exchange, the most cost effective real estate ABS program in China and the very first real estate program invested by insurance investors. .