Kirkland Assists Kelun-Biotech Biopharmaceutical on its H-Share Placing

Kirkland & Ellis represented the placing agents, including Goldman Sachs (Asia) L.L.C. and Citigroup Global Markets Limited, in connection with the H-share placing (the H-Share Placing) of Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd (Kelun-Biotech). The H-Share Placing was announced on June 5, 2025 and completed on June 12, 2025. 

The net proceeds from the H-Share Placing (after deducting all fees, costs and expenses incurred by Kelun-Biotech) amounted to approximately HKD 1.943 billion (USD 250 million). This represents the largest follow-on offering by a listed biotech company in Hong Kong over the past 12 months.

The Kirkland team included capital markets lawyers Mengyu Lu, George Zheng, Yuchen Han, Jing Du and Rock Liu.