SiChuan Baili Tianheng Pharmaceutical (688506.SH) announced that the company is applying to issue Listed in Hong Kong shares and is engaged in related work for listing on the Main Board of the Hong Kong Stock Exchange.

The listing committee of the Exchange held a listing hearing on Thursday (December 19) to review the company's application for this issuance and listing.

The company's joint sponsor received a letter from the Exchange on Friday (December 20), stating that the Exchange's listing committee has reviewed the company's application for this issuance and listing, but this letter does not constitute formal approval for listing, and the Exchange still has the authority to raise further opinions regarding the company's listing application.

This issuance and listing still require final approval from the relevant regulatory bodies such as the Hong Kong Securities and Futures Commission and the Exchange, and this matter still carries uncertainty.

BaiLi Tian Heng (688506.SH) submitted its prospectus to the Hong Kong Stock Exchange on July 10, 2024. Its main listing intermediary team includes: Goldman Sachs, JPMorgan, and CITIC SEC as its joint sponsors; Deloitte as its auditor; JunHe and King & Wood as its Chinese company lawyer and Hong Kong and USA company lawyers respectively; TongShang and Kaiyi as its brokerage Chinese lawyers and brokerage Hong Kong lawyers respectively; and ZhiShi Consulting as its industry advisor.

Bailitianheng received the overseas issuance and listing filing notification from the China Securities Regulatory Commission on December 12, 2024, and plans to issue no more than 24.271 million overseas listed ordinary shares and list them on the Hong Kong Stock Exchange.

BaiLi Tian Heng is committed to becoming an innovative global pharmaceutical company in the field of tumor treatment and is currently at the forefront of global tumor antibody drug (ADC, bispecific, multispecific) innovation. The company has reached a total global strategic licensing and collaboration deal worth $8.4 billion with Bristol-Myers Squibb (BMS) for BL-B01D1 (a first-in-class EGFR × HER3 bispecific ADC), which includes an upfront payment of $0.8 billion, making it the largest single asset total transaction amount in the global ADC field so far. BaiLi Tian Heng has built a leading global innovative ADC drug research and development platform, successfully developing 6 ADC innovative drug pipelines that have entered clinical stages, including BL-B01D1, and has conducted approximately 60 clinical studies, of which 9 are Phase III trials and 13 are first-line Phase II trials. It also has a leading global innovative multispecific antibody drug research and development platform, successfully developing 4 GNC innovative multispecific antibody drug pipelines that have entered IND or clinical stages, including GNC-077, and has conducted 10 clinical studies.

The prospectus shows that prior to going public in Hong Kong on July 3, 2024, in the shareholder structure, Dr. Zhu holds 74.34%; OAP III holds 7.11%. Ms. Zhang Suya holds 2.39%; Mr. Kang Jian holds 0.06%; Other A-share shareholders, including Guangzhou Defu, hold 16.09%.

Baili Tianheng (688506) has submitted an IPO prospectus and intends to list in Hong Kong, with Goldman Sachs, JPMorgan, and CITIC SEC as joint sponsors.

Prospectus link for Bai Li Tian Heng:

https://www1.hkexnews.hk/app/sehk/2024/106606/documents/sehk24071001001_c.pdf