Leading international law firm Herbert Smith Freehills has advised CITIC Securities (Hong Kong) Limited as the Sole Sponsor and CLSA Limited, China International Capital Corporation Hong Kong Securities Limited, Jefferies Hong Kong Limited, Deutsche Bank AG, Hong Kong Branch and CMB International Capital Limited as the Overall Coordinators of QuantumPharm Inc. (02228.HK)’s listing on the Main Board of the Hong Kong Stock Exchange.
QuantumPharm is the first listing under Chapter 18C, a new regime introduced by the Hong Kong Stock Exchange in March 2023 for specialist technology companies.
QuantumPharm operates a quantum physics-based, AI-powered and robotics-driven innovative R&D platform. The Company combines quantum physics-based first-principles calculation, AI, high-performance cloud computing and scalable and standardised robotic automation to provide drug and material science R&D solutions and services to global and domestic companies in the pharmaceutical and material science industries, including agritech, energy and new chemicals and cosmetics. The Company is one of the leaders in the adoption of quantum physics-based first-principles calculation, AI, and robotic automation in drug and material science R&D.
“We congratulate QuantumPharm as the first specialist technology company to list on the Hong Kong Stock Exchange under Chapter 18C,” said Hong Kong partner Matt Emsley. “We are delighted to have worked with the Company, the Sole Sponsor and the Overall-Coordinators on this IPO and wish them continued success. We look forward to assisting more pre-commercial and commercial high-tech companies with listings under the new regime.”
The Hong Kong Stock Exchange introduced Chapter 18C in March 2023 to attract listings from next-generation information technology, advanced hardware and software, advanced materials, new energy and environmental protection, and new food and agriculture technologies.
“We have advised a host of Chinese growth companies on listings in high-tech, biopharmaceutical, new materials and other growth sectors in recent years,” said Hong Kong partner Stanley Xie. “It is our pleasure to have worked with such an iconic unicorn from China’s Greater Bay Area, one of the country’s most diverse growth regions.”
Herbert Smith Freehills leads the legal market in advising sponsors and underwriters on Hong Kong IPOs. In 2022 and 2023, the firm has advised on 17 successful listings on the Hong Kong Stock Exchange, ranking second among 70 international and local law firms in Hong Kong, according to RyanBen Capital.
Partners Matt Emsley, Stanley Xie* and Jin Kong* jointly led a cross-office team advising the Sole Sponsor and the Over-all Coordinators, assisted by Agatha Shen (international partner), Sean Ji (counsel), and Ting Wang (associate) from the Shanghai joint operation office, and Crystal Chan (associate), Gigi Lo (associate), Bryan Cheung (associate), Haiyun Chen (registered foreign lawyer (New York, USA)) from the Hong Kong office and legal assistant Leah Zhi from the Beijing office. Jaime Fong (senior associate), Ayu Maylinda (associate), Gallant Guo (trainee solicitor), Kate Dai (trainee solicitor), Emily Wan (legal assistant), and Mona Wang (legal assistant) also provided support.
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 senior legal analyst Chloe Hu and legal analyst Baofang Zhang.
*According to regulatory requirements, Stanley Xie and Jin Kong’s official titles are Senior Registered Foreign Lawyer in Hong Kong.
