HONG KONG, September 23, 2009 – Morrison & Foerster served as Hong Kong and U.S. legal counsel to the underwriters China International Capital Corporation, UBS AG, Morgan Stanley Asia Limited, Citigroup Global Markets Asia Limited, and Deutsche Bank AG in the US$1.1 billion initial public offering of Sinopharm Group Company Limited in Hong Kong. Sinopharm is China’s largest distributor of pharmaceuticals and is managed by state-owned China National Pharmaceutical Group.
Sinopharm ranks among one of the largest IPOs in Hong Kong this year. The firm also recently advised the underwriters in the US$1.2 billion Hong Kong IPO of China Zhongwang in May 2009.
Morrison & Foerster partner Ven Tan led the project team in Hong Kong. Additional support on U.S. securities issues was provided by partner Chris Forrester.