https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0807/2024080700829_c.pdf
Beigene listed on Nasdaq, HKEX, and A-share announced that the board of directors proposed to revoke the registration in Cayman Islands and continue the registration of the corporation in Switzerland. The company's registered address would be moved from the Cayman Islands to Switzerland.
According to Beigene's announcement, if approved, the legal jurisdiction of the company's registered address would change upon the effective date of the continuation, but the company's business and operation would remain unchanged and intend to continue to operate in various countries. The continuation would not materially affect the operation of the company and its subsidiaries. The listed shares would continue to trade on Nasdaq, Hong Kong Stock Exchange, and STAR Market with trading codes of BGNE, 06160, and 688235, respectively. The company would still comply with the reporting requirements of the US Securities and Exchange Commission, the rules of Nasdaq, the listing rules of Hong Kong Stock Exchange, and the listing rules of STAR Market.
According to Beigene's announcement, the reasons for choosing to relocate its holding company to Switzerland include Basel's reputation as a famous life sciences cluster in Europe and one of the world's leading centers for life sciences. Its strong relationship network and pathways to multiple stakeholders have contributed to Switzerland's reputation as a center for life science innovation and excellence, which aligns with the company's strategic priorities and provides opportunities for the company to access cutting-edge technology, top talent, academic and strategic partners, and cumulatively drive sustainable growth; its central position in Europe will ensure the establishment of a strong network of relationships in Europe and globally, enabling easy access to international markets and expanding its partner circle.
Beigene's board of directors believes that the company would be able to leverage Switzerland's strong commercial and tax agreement network negotiated worldwide and the business executives of Swiss embassies worldwide. Therefore, the board of directors believes that, overall, the continuation is beneficial to the company and shareholders and is in the best interest of the company.