Niederer Kraft Frey advises Lepu Medical on USD 224m offering of GDRs

Niederer Kraft Frey advised the Beijing company Lepu Medical Technology on its successful USD 224 million offering and listing of global depositary receipts on SIX Swiss Exchange within the framework of the China-Switzerland Stock Connect Program.

Lepu is a China-based provider of medical devices, pharmaceuticals and services across the entire life cycle of cardiovascular disease management. The company, whose A Shares are listed on Shenzhen Stock Exchange, expects to use the net proceeds from the offering to finance its global R&D initiatives and fund its overseas expansion. Credit Suisse, CLSA Limited and China International Capital Corporation (UK) acted as joint global coordinators on the transaction. Trading in the GDRs on SIX Swiss Exchange started on 21 September 2022.

The NKF team was led by counsel Franziska Albers-Schoenberg (capital markets, pictured), working with partners Daniel Bono (capital markets) and Philippe Weber (corporate/capital markets). The team further comprised senior associate Shu Bernet-Zhang (corporate/capital markets) and partner Markus Kronauer (tax).