Maples and Calder, the Maples Group’s law firm, is pleased to have advised SciClone Pharmaceuticals (Holdings) Limited (“SciClone”) on its recent successful privatisation which was implemented by way of a Cayman Islands scheme of arrangement. This transaction was completed on 3 July 2024, with the privatisation valued at approximately HK$8.79 billion (approximately US$1.13 billion).
SciClone is a biopharmaceutical company targeting oncology and severe infection therapeutic areas within the China market. SciClone was listed on the Hong Kong Stock Exchange in March 2021, and the firm’s Hong Kong Corporate team acted as Cayman Islands counsel to SciClone on this Hong Kong Initial Public Offering.
A multi-jurisdictional team of lawyers based in the firm’s Hong Kong and Cayman Islands offices acted as Cayman Islands counsel to SciClone, as the target, and GL Capital Group, as the offeror. The firm’s Hong Kong team was led by Partners, Nick Stern and Juno Huang with assistance from Associates, Jean Bao and Emma Smith. The Cayman Islands team was led by Partner, James Eldridge.
Commenting on the transaction, Nick said “We are delighted to have supported our long-standing client, SciClone on its successful de-listing from the Hong Kong Stock Exchange. This showcases the Maples Group ability to provide seamless multi-disciplinary advice across jurisdictions.”
Clifford Chance acted as Hong Kong legal adviser to SciClone, and Kirkland & Ellis acted as Hong Kong legal adviser to GL Capital Group. ~ ENDS ~
About the Maples Group
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