Fangda, Wilson Sonsini, Davis Polk, and Jingtian & Gongcheng Advised WuXi XDC to Successful IPO

Fangda, Wilson Sonsini, Davis Polk, and Jingtian & Gongcheng Advised WuXi XDC to Successful IPO

Chinese law firm Fangda Partners and US law firm Wilson Sonsini Goodrich & Rosati guided Chinese medical research group WuXi XDC through its $470 million Hong Kong IPO, the third-largest new share sale in the city in 2023. Davis Polk & Wardwell and Jingtian & Gongcheng represented the underwriters.

Capitalising on the heightened global interest in the biotech sector, WuXi XDC's IPO drew strong investor demand, making it one of the most sought-after large-scale offerings in Hong Kong this year, despite the overall subdued appetite for new share sales in the region.

This transaction highlights the strength of Fangda Partners and Wilson Sonsini Goodrich & Rosati's cross-border M&A and IPO capabilities. Both firms have a deep understanding of the Chinese and US legal and regulatory landscapes, as well as extensive experience in advising Chinese companies on their IPOs in Hong Kong and the US.

Partners Colin Law, Arman Lie, Jeffrey Ding, Diana Li, Hao Zhang, and Jianbo Wei spearheaded the Fangda team, while the Wilson Sonsini team was led by partners Weiheng Chen, Winfield Lau, and Myra A. Sutanto Shen.

Partners Yang Chu and Xuelin (Steve) Wang took the lead in guiding the Davis Polk team.