Harneys advised Legend Biotech Corporation on its US$487 million IPO

Harneys acted as Cayman Islands legal counsel to Nanjing-based Legend Biotech Corporation on its US$487.3 million initial public offering of American Depositary Shares on the Nasdaq Global Select Market.

Legend Biotech is a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. Earlier this year, Harneys also acted for Legend Biotech in relation to its approximately US$160 million pre-IPO financing from investors, including Hudson Bay Capital Management and the venture capital arm of Johnson & Johnson.

The Harneys team was led by Partner Raymond Ng, with support from Legal Manager Nicholas Fong (in relation to the IPO) and Associate Annie Liu (in relation to the pre-IPO financing). Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, provides registered office and share registrar services to Legend Biotech.

Raymond commented: “We are pleased to be involved in the successful closing of Legend Biotech’s IPO. With the world seeking a recovery following the pandemic, we continue to see strong investor’s interest in biotech and healthcare companies.”

Harneys Corporate team advises on complex cross-border transactions involving British Virgin Islands, Cayman Islands, Luxembourg and Cyprus corporate vehicles. The firm’s significant track record includes advising on high profile private equity transactions, landmark IPOs, as well as public and private M&A and joint ventures.